Almunia Says EU May Send Objections on UPS-TNT Deal

United Parcel Service Inc., the world’s biggest package-delivery company, may receive a formal complaint from European Union antitrust regulators over its bid for TNT Express NV, the bloc’s competition chief said.

Joaquin Almunia, the EU’s competition commissioner, said it was “possible” that the agency may send a so-called statement of objections to the companies.

“We are in phase 2, it will be a deep investigation,” he told reporters in New York today. He said he was analyzing concerns that the deal could cut the number of large operators in the industry.

(Corrects third paragraph to remove reference to number of companies in market.)
Before it's here, it's on the Bloomberg Terminal. LEARN MORE