EU to probe FedEx takeover of Dutch rival TNT

AP News
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Posted: Jul 31, 2015 9:38 AM

BRUSSELS (AP) — The European Union is opening an in-depth probe into whether FedEx's proposed $4.9 billion takeover of Dutch company TNT would strangle competition in the massive market for small package deliveries.

EU Antitrust chief Margrethe Vestager said Friday she had to "make sure that FedEx's takeover of TNT would not impede effective competition and would not lead to higher prices for consumers."

The FedEx-TNT deal came two years after UPS dropped its own takeover bid for the Dutch company, citing objections from EU regulators fearing the combined company would become too dominant.

The European Commission said UPS and DHL would be the only two other viable players in the European market.