UPS Faces Extended EU Antitrust Review Over Bid For TNT - Bloomberg
The deal may reduce the number of so-called integrated express delivery services from four to three across Europe, the European Commission said in an e-mailed statement. It extended the deadline to rule on the deal until Nov. 28.
UPS is seeking to expand in Europe with the biggest deal in its 105-year history. It will vault to equal footing there with Deutsche Post AG (DPW)’s DHL, the market-share leader. The tie-up with money-losing TNT will immediately add to earnings on an adjusted basis once the deal is done, the company said in March.
Regulators said there are potential competition concerns for small parcel delivery services, in particular international express services, in several European countries where the companies would have very high combined market shares.
The deal may reduce the number of so-called integrated express delivery services from four to three across Europe, the European Commission said in an e-mailed statement. It extended the deadline to rule on the deal until Nov. 28.
UPS is seeking to expand in Europe with the biggest deal in its 105-year history. It will vault to equal footing there with Deutsche Post AG (DPW)’s DHL, the market-share leader. The tie-up with money-losing TNT will immediately add to earnings on an adjusted basis once the deal is done, the company said in March.
Regulators said there are potential competition concerns for small parcel delivery services, in particular international express services, in several European countries where the companies would have very high combined market shares.
