FedEx takeover probe
Source: AP |
August 1, 2015, Saturday
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Print Edition
Print Edition
THE European Union is opening an in-depth probe into whether FedEx’s proposed US$4.9 billion takeover of Dutch company TNT would strangle competition in the massive market for small package deliveries.
EU Antitrust chief Margrethe Vestager said yesterday she had to “make sure that FedEx’s takeover of TNT would not impede effective competition and would not lead to higher prices for consumers.”
The FedEx-TNT deal came two years after UPS dropped its own takeover bid for the Dutch company, citing objections from EU regulators fearing the combined company would become too dominant.
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