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EU: FedEx seeks EU approval for US$4.9 billion bid for TNT Express

By  |  June 28, 2015

FedEx has asked the European Union’s competition regulator to approve its 4.4-billion-euro ($4.9 billion) bid for Dutch rival TNT Express, the U.S. package delivery service company.

The deal, which will combine FedEx’s air fleet with TNT’s sizeable European road network, will extend FedEx’s reach in competition with United Parcel Service and Deutsche Post.

FedEx submitted its request to the European Commission on Friday, spokeswoman Nira Gale said.

The EU competition authority’s preliminary review takes 25 working days, which can be extended by another 10 working days if concessions are offered to head off regulatory worries.

Full content: Trade Arabia

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