EU's Almunia wants substantial UPS, Hutchison concessions - Reuters
The EU antitrust chief called on United Parcel Service Inc on Friday to come up with significant concessions to allay concerns that its 5.2 billion-euro ($6.68 billion) bid for Dutch peer TNT Express may hurt rivals and consumers.
He did not provide details of the kind of remedies he was looking for. The EU watchdog typically prefers asset sales to licensing or network access concessions.
UPS has yet to offer any remedies to the EU executive. The TNT bid, the biggest in its 105-year history, will reinforce it as the world No. 1 package delivery company.
The EU antitrust chief called on United Parcel Service Inc on Friday to come up with significant concessions to allay concerns that its 5.2 billion-euro ($6.68 billion) bid for Dutch peer TNT Express may hurt rivals and consumers.
He did not provide details of the kind of remedies he was looking for. The EU watchdog typically prefers asset sales to licensing or network access concessions.
UPS has yet to offer any remedies to the EU executive. The TNT bid, the biggest in its 105-year history, will reinforce it as the world No. 1 package delivery company.
