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Brazil approves FedEx's acquisition of TNT
Following approval from regulatory bodies in the US and Europe, FedEx has now been given the go-ahead by Brazil for its acquisition of TNT.
FedEx required permission from the Conselho Administrativo de Defesa Econômica, as it did other watchdogs such as the European Commission, who first needed to investigate the deal and decide that the company would not overwhelmingly dominate markets as a result of the merger.
FedEx had signed a conditional agreement with TNT in February 2015. Now, a year later, Brazil has given them unconditional clearance—though the approval can be appealed within 15 days of the decision.
China is now the only territory remaining in which the FedEx-TNT merger has not been cleared.
(Source: Air Transport World)
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