Click here to follow us on Facebook



UPS appealing EC's TNT ruling

By control on April 11, 2013

UPS is appealing the Jan. 30 decision of the European Commission to prohibit its acquisition of TNT Express. A UPS spokesperson says the company believes the EC’s decision was factually and legally erroneous.

“We are challenging the decision in order to ensure a more accurate assessment of the EU competitive landscape and that no precedent is established by the EC that would limit international growth opportunities,” said Peggy Gardner, UPS spokesperson. “If the appeal is successful, the prohibition decision would be “annulled,” which essentially means the prior decision could not be used as a basis for future decisions by the EC.”

Gardner said the appeal should not be interpreted as a renewed interest in TNT Express.

TNT Express released the following statement in response to UPS’ move:
“TNT Express understands that the appeal is intended to clarify the EC’s legal assessment of the dynamics of the European express market. It does not imply a renewal or reconsideration of the previously proposed UPS offer. The merger agreement between TNT Express and UPS was terminated and the UPS offer was withdrawn following the EC decision in January 2013.

TNT Express continues to focus on the execution of its updated strategy and profit
improvement plan as announced on 25 March 2013.”

What Are Your Thoughts?

* Disclaimer: Please note that libellous or offensive comments are not allowed.