UPS appeals TNT decision

City A.M. Reporter
UNITED Parcel Services has appealed the European Union regulator’s decision to block its €5.16bn (£4.39bn) bid for Dutch competitor TNT Express, a UPS spokeswoman said late on Sunday.

UPS, the world’s biggest package delivery firm, dropped its bid to buy the Dutch firm on 14 January, on the expectation of an EU veto of the merger.

At that time, UPS and TNT Express said the European Commission had told the two firms it was working on a decision to prohibit the proposed acquisition, leaving them no choice but to abandon it.

UPS believes the EU’s decision was “factually and legally erroneous,” a spokesperson said.