ups modifies tnt express bid to get eu approval
Last Updated : GMT 02:47:22
Arab Today, arab today
Arab Today, arab today

UPS modifies TNT Express bid to get EU approval

Arab Today, arab today

Arab Today, arab today UPS modifies TNT Express bid to get EU approval

The Hague - AFP

US delivery giant United Parcel Service (UPS) said on Friday it had amended its multi-billion-euro bid for Dutch firm TNT Express to meet EU conditions and close the deal by next year. It added however that the revised bid \"does not change the terms and conditions of the offer by UPS for TNT Express.\" A statement said: \"UPS and TNT announce that in line with Dutch disclosure requirements, remedies have been submitted to obtain competition clearance from the European Commission for the acquisition.\" It added: \"The proposed remedies aim to address the EC\'s concerns regarding the competitive effects of the intended merger on the international express small package market in Europe.\" In June, UPS launched a 5.16-billion-euro ($6.71 billion) takeover bid for TNT Express, but European Commission competition authorities announced a month later they would investigate how the deal could affect the European market. At the time, the EC said it was worried that the proposed merger would reduce the number of so-called integrators from four to three and lead to a highly concentrated market for domestic and international express delivery services. UPS and TNT Express are major players in the sector for delivery of small packages and are two of four firms with a comprehensive air and road delivery network on the continent. Others present in Europe are DHL, owned by Deutsche Post, and FedEx, a US-based company. The deal is expected to put UPS ahead of its two competitors as it would strengthen its position in Europe and globally. UPS and TNT Express said on Friday that the proposed adjustments \"comprised the sale of business activities and assets in combination with granting access to air capabilities\" but declined to give further details. \"UPS and TNT Express continue to be fully committed to the merger and are working closely with the EC to gain competitive clearance allowing the completion of the transaction in early 2013,\" it said. \"As part of the approval process, the EC will market-test the remedies on a confidential basis,\" it added. TNT Express is a global player operating in more than 200 countries and maintains a leading role in the road freight network in Europe. UPS is the world\'s biggest package-shipping group, with annual revenues last year of $53.1 billion and 400,000 employees.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ups modifies tnt express bid to get eu approval ups modifies tnt express bid to get eu approval

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ups modifies tnt express bid to get eu approval ups modifies tnt express bid to get eu approval

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday