UPS may not be able to buy TNT
Europe’s anti-trust watchdog said yesterday that UPS faced a difficult task to overcome competition issues related to its plan to buy Dutch rival TNT Express.
European Union Competition Commissioner Joaquin Almunia expressed doubts whether UPS, the world’s biggest package delivery company, could allay concerns that the deal would reduce the number of competitors in Europe to two. The commission is scheduled to decide on the deal by February 5th. – (Reuters)