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UPS appeals Brazil’s approval of the FedEx-TNT deal
United Parcel Service (UPS) is appealing the Brazilian government’s decision to approve FedEx’s acquisition of TNT.
Brazil’s regulatory anti-trust body, the Conselho Administrativo de Defesa Econômica (CASE), gave FedEx the go-ahead earlier this month, following approvals from Europe and the United States.
UPS had previously filed an appeal with the European Commission, on the grounds that they had made their own similar bid for TNT in 2013 and had been opposed by the EU.
However, the Commission appeared to accept FedEx’s argument that their company does not have the same pre-existing presence in Europe for the merger to risk violating anti-trust regulations.
UPS’ appeal is a request for the senior level of CADE to consider a more in-depth review of the initial finding, which is permitted as part of CADE’s due process.
However, FedEx and TNT Express remain confident that the deal will go through.
(Source: Wall Street Journal)
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