European Commission to approve merge of FedEx and TNT Express
Brussels investigation opened in July communicated worry that agreement will result in higher prices for consumers which buy online in an increasing number and get delivered packages directly shipped at their address.
- Internal deadline of EC to issue statement on remark expires October 23 but FedEx and TNT did not expect the European Commission will issue any kind of a statement on remark – it was communicated.
FedEx and TNT will still expect transaction to end in the first half of 2016.
Agreement was announced in April, two years after the Commission, a power
executive hand of the European Union, torpedoed the offer of FedEx’s American
rival UPS for the acquisition of TNT
Express.
TNT Express went through an extensive restructuring after the offer of UPS
failed, cutting 4000 jobs.