DELIVERY company United Parcel Services (UPS) has launched an appeal against European regulators’ blocking its €5.16bn (£4.37bn) bid for Dutch competitor TNT Express.
The deal, which would further expand the reach of UPS – already the world’s biggest package delivery company – hit a stumbling block earlier this year when US based UPS dropped its bid to buy the Dutch firm, on the expectation of an EU veto of the merger.
At that time, UPS and TNT Express said the European Commission, the EU’s executive body, had told the two firms it was working on a decision to prohibit the proposed acquisition on competition grounds, leaving them no choice but to abandon it.
However, UPS has now decided to challenge the decision, claiming it was “factually and legally erroneous”. The company submitted its appeal last week, a spokesperson said.
“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 European Commission that would limit international growth opportunities,” the company said in a statement.