March 28 2011 07:40 AM

Post&Parcel--FedEx dampened speculation over the possible acquisition of TNT’s express division by labelling the company “too expensive”.

The operator’s chief financial officer (CFO) Alan Graf made the admission in response to a question during a JP Morgan conference in New York.

Graf explained that FedEx does not necessarily have to make acquisitions in Europe, claiming that “we have our own organic plans” in regards to growing the Memphis-based company’s exposure in Europe. However, Graf added that FedEx “looks at a lot of things all the time”.

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