UPS Shuns TNT, Seeks European Partners, Capital Says

United Parcel Service Inc. isn’t interested in buying TNT NV’s parcel business while expanding in Europe’s private-customer market, Capital magazine reported, citing Chief Executive Officer Scott Davis.

While the German publication quoted Davis as saying UPS is talking to European postal operators, including Deutsche Post AG, to gain access to residential customers and lower delivery costs, Atlanta-based UPS said today in a statement that there are “no active discussions under way in this arena.”