UPS has received a statement of objections from the European Commission as part of a competition review of its acquisition of TNT Express. According to UPS the statement of objections addresses the competitive effects of the intended deal on the international express small package market in Europe. It added that UPS and TNT Express would respond to the EC within “a couple of weeks”, but would not elaborate on the nature of the statement of objections as its contents were […]
A huge increase in continental e-commerce over the coming years means staying in Europe is crucial to the future of Pall-Ex, said group MD Kevin Buchanan.
UPS says its takeover of TNT Express is likely to be completed in the fourth quarter. The US firm says it wants to carry out a what it describes as a ‘Phase II review’, as there are “certain areas that require more time to analyse”. This extended review could take up to 25 weeks to complete, which will mean the initial offer period will need to be extended beyond the original deadline of 31 August, and is now expected to […]