Almunia Says Conducting UPS-TNT Remedies Market Test - Bloomberg
United Parcel Service Inc. (UPS)’s rivals were asked to examine concessions that the world’s biggest parcel company offered European Union regulators probing its 5.16 billion-euro ($6.75 billion) bid for TNT Express NV. (TNTE)
“We have carried out a market test of the remedies proposal,” EU Competition Commissioner Joaquin Almunia told reporters in Brussels today. He said he’d come back to the two companies “informing them of some of our concerns given the results.” The market test process hasn’t yet been completed, Almunia’s spokesman Antoine Colombani said in an e-mail.
“After Christmas we will need to have a draft decision and for this time we will need to make up our final opinion regarding the capacity of the remedies finally proposed by UPS and TNT,” Alumina said today.
United Parcel Service Inc. (UPS)’s rivals were asked to examine concessions that the world’s biggest parcel company offered European Union regulators probing its 5.16 billion-euro ($6.75 billion) bid for TNT Express NV. (TNTE)
“We have carried out a market test of the remedies proposal,” EU Competition Commissioner Joaquin Almunia told reporters in Brussels today. He said he’d come back to the two companies “informing them of some of our concerns given the results.” The market test process hasn’t yet been completed, Almunia’s spokesman Antoine Colombani said in an e-mail.
“After Christmas we will need to have a draft decision and for this time we will need to make up our final opinion regarding the capacity of the remedies finally proposed by UPS and TNT,” Alumina said today.
