Almunia Gets Tough as EU Prepares to Block UPS’s TNT Bid

Discussion in 'The Latest UPS Headlines' started by cheryl, Jan 15, 2013.

  1. cheryl

    cheryl I started this. Staff Member

    Almunia Gets Tough as EU Prepares to Block UPS’s TNT Bid - Bloomberg

    Joaquin Almunia, the European Union’s antitrust chief, is starting to look like a tough guy as he prepares to block a third merger in his tenure, fine Microsoft Corp. (MSFT) and extract concessions from Google Inc. (GOOG)

    Three years into his term, Almunia, has already axed as many deals as Dutch predecessor, Neelie Kroes. He’s blocked the plans of Aegean Airlines SA (AEGN) to merge with unprofitable Olympic Air SA in Greece and is now vetting a resurrected bid by Ryanair Holdings Plc (RYA) to buy Irish rival Aer Lingus Group Plc. (AERL)

    The Spanish socialist, who lost a bid to be his country’s prime minister in 2000, has said he’s resisted calls to soften EU merger scrutiny and would ensure that companies’ efforts to consolidate don’t trample on consumers