European Commission to approve merge of FedEx and TNT Express

Source: seebiz.eu Thursday, 22.10.2015. 12:39
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The European Union will approve EUR 4,4 billion contract on FedEx acquisition of Dutch rival TNT Express, the company announced on Tuesday.

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.

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