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Netherlands: TNT hit hard with expected antitrust fines

 |  October 27, 2014

Reports say parcel delivery service TNT Express has been hit with its first operating loss in five quarters thanks to expected antitrust fines.

The Dutch company saw a loss of nearly $60 million in the last quarter through September. Reports say the company has put aside about $63.5 million for possible antitrust fines from French watchdogs, which are in the midst of an investigation into alleged anticompetitive conduct by various delivery services including FedEx and UK-based Royal Mail.

Reports also say that TNT’s profits were impacted by its decision to abandon plans to acquire UPS early last year, a $6.6 billion deal that was met with significant opposition from the European Commission.

Full content: JOC.com

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