EU unconditionally approves FedEx-TNT deal

FedEx and TNT Express have finally obtained official, unconditional approval from the European Commission, allowing FedEx to go ahead with their acquisition.

The EU’s regulatory body had originally raised concerns regarding FedEx’s possible domination of the small parcels market in some European countries. However, FedEx’s stance has been that—unlike UPS, who attempted to acquire TNT in 2013—they do not have a strong enough existing presence in Europe to make them a threat.

FedEx were unofficially informed as far back as October that the EU would raise no objections.

FedEx had already secured approval from the U.S. They are still seeking approval from a handful of other countries, including China and Brazil.

(Source: Analytiqa)