EU Commission confirms clearance of FedEx, TNT Express merger

08 Jan, 2016

BRUSSELS: The European Commission said on Friday it had approved without conditions FedEx's planned 4.4 billion euro ($4.78 billion) takeover of Dutch package delivery rival TNT Express.

The Commission said in a statement that the two were not particularly close competitors and the merged entity would continue to face strong competition from its rivals in all markets concerned.

The two companies earlier said they had secured the approval.

Copyright Reuters, 2016

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