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Multinational: UPS laments EU’s ruling against TNT deal

By  |  September 23, 2014

The head of UPS International recently spoke in an interview slamming the European Commission’s earlier decision to block the company’s merger with TNT Express, a decision UPS says hurt the company’s efforts to expand in the Middle East.

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    Jim Barber told reporters that it was a missed opportunity for the company when EU officials blocked the deal, which would have given UPS access to Netherlands-based TNT’s growing presence in Asian, Middle Eastern, African and Latin American markets, say reports.

    UPS ultimately abandoned its plans to merge with TNT in early 2013 after the Commission decided the company had not offered sufficient concessions to quell competition concerns.

    Full content: Arabian Business

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