EU Almunia: 'Substantial Remedies' Needed for UPS/TNT Merger - Smart Money
There is a need for "substantial remedies" before clearance of the merger of United Parcel Service Inc (UPS) and TNT Express NV (TNTE.AE) can be given by European authorities, the European Union's competition chief said Friday.
In a speech at a conference in Cernobbio, Italy, European Commissioner Joaquin Almunia gave a brief update on several of the larger cases he is handling.
The EU said in early October it was launching an in-depth probe of the UPS/TNT merger amid fears it could squeeze out competition in the express delivery market in Europe.
There is a need for "substantial remedies" before clearance of the merger of United Parcel Service Inc (UPS) and TNT Express NV (TNTE.AE) can be given by European authorities, the European Union's competition chief said Friday.
In a speech at a conference in Cernobbio, Italy, European Commissioner Joaquin Almunia gave a brief update on several of the larger cases he is handling.
The EU said in early October it was launching an in-depth probe of the UPS/TNT merger amid fears it could squeeze out competition in the express delivery market in Europe.
