English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Dutch get Commission approval for FedEx takeover

BRUSSELS: January 08, 2016. The European Commission has approved the proposed acquisition of TNT Express by FedEx Corporation following an investigation begun in July 2015.

The announcement coincides with the beginning of the Dutch presidency of the Council of the EU and a visit to Amsterdam by Commission president Jean-Claude Juncker. (Left of picture with mayor of Amsterdam Eberhard van der Laan at the Hermitage Museum).

Jean-Claude Juncker with mayor of Amsterdam Eberhard van der LaanIn giving the go-ahead to FedEx, the Commission said its purchase of TNT Express would not give rise to competition concerns because the two companies are “not particularly close competitors” and the new entity will continue to face sufficient competition from its rivals in all markets concerned.

Competition commissioner Margrethe Vestager noted: "Many businesses and consumers rely heavily on affordable and reliable small package delivery services, in particular with the growth of e-commerce. Therefore, the Commission has thoroughly assessed the markets affected by this takeover. The conclusion is that European consumers will not be adversely affected by the transaction. We have therefore unconditionally approved the merger."

In 2013 the Commission blocked a planned takeover of TNT by UPS arguing it would lead to price increases and harm customers, because FedEx did not exert a significant competitive constraint for intra-EEA express delivery services. The Commission said it applied the same assessment methodology for the proposed TNT acquisition as it had for the earlier UPS bid to ensure “full consistency with its previous practice”.

David Binks president of FedEx Express Europe, commented: “We are extremely pleased to receive the European Commission’s unconditional approval. “We believe the combination of TNT Express and FedEx will provide significant value to the employees, customers and shareholders of both companies.”

Both companies await government approval from China and Brazil and expect to complete the takeover in the first half of this year.

More News

Written on 23/08/2017, 21:24
bangkok-and-thai-the-cargo-knotBANGKOK: August 22, 2017. Bangkok Airways and Thai Airways Cargo have signed a special prorate cargo agreement designed to strengthen their respective...
Written on 22/08/2017, 21:25
ocean-carriers-invest-in-new-york-exchangeNEW YORK, NY: August 21, 2017. Hapag-Lloyd and CMA-CGM has joined with GE Ventures and Goldman Sachs to invest US$13 million in the New York Shipping...
Written on 22/08/2017, 20:19
huge-revenue-increase-for-turkish-cargoISTANBUL: August 22, 2017. Turkish Airlines has reported cargo revenue of US$580 million for the first six months of 2017 (H1) – a rise of 25 percent...
Written on 22/08/2017, 19:15
freightweek-news-update-week-34HELSINKI: August 23, 2017. Solar power is helping Finnair keep salmon and pharmaceuticals cool at its new Nordic Cargo Hub. Read...
Written on 22/08/2017, 16:07
hawaii-shippers-to-have-third-liner-serviceHonolulu, HI: August 21, 2017. Tote Maritime, part of the Alaska-based Saltchuck logistics group, is to launch a new ocean service to Hawaii from the U.S....
Written on 18/08/2017, 20:38
cyber-attack-to-hit-a-p-moller-maersk-third-quarterCOPENHAGEN: August 16, 2017. A.P. Moller-Maersk says the 'Not Petya' cyber attack that hit Maersk Line, APM Terminals and Damco at the end of June is...
Written on 18/08/2017, 15:55
new-amazon-fulfillment-center-at-sacramento-air-parkSACRAMENTO, CA: August 17, 2017. Amazon is putting the finishing touches to an 855,000 square feet, four-story fulfillment center at Sacramento...
Written on 17/08/2017, 21:45
nippon-express-signs-kazakhstan-mouASTANA, Kazakhstan: August 16, 2017. Nippon Express has signed an MoU with Kazakhstan's railway company Kazakhstan Temir Zholy (KTZ) to develop container...
Written on 16/08/2017, 22:16
descartes-acquires-macropoint-and-new-shareholderWATERLOO, ON: August 16, 2017. Descartes Systems Group is to acquire Cleveland, OH-based transport visibility network MacroPoint for US$107...
Written on 16/08/2017, 21:45
jebel-ali-ftz-gains-us-80-billionDUBAI: August 14, 2017. Jebel Ali Free Zone (Jafza) increased the value of its non-oil foreign trade by US$80.2 billion in 2016 with volumes rising 17...
Written on 16/08/2017, 20:46
wincanton-to-operate-from-dp-world-london-gatewayLONDON: August 16, 2017. Wincanton, one Britain's largest logistics companies, is to establish a truck base at DP World London Gateway's logistics park...
Written on 16/08/2017, 20:03
freightweek-news-update-week-33FRANKFURT: August 18, 2017. Jettainer is now offering short-notice, short-term leases on its range of horse boxes. Read more: horsebox.pdf HAMBURG:...
Written on 15/08/2017, 23:01
swiss-worldcargo-reorganizes-the-americasZURICH: August 15, 2017. The air cargo division of SWISS is to reduce its American organization from three to two regions effective October 01 covering...
Written on 10/08/2017, 14:58
zeaborn-now-owns-six-rickmers-line-shipsBREMEN/HAMBURG: August 07, 2017. The Zeaborn Group has acquired five 30,000dwt 'Superflex Heavy Lift' vessels from Rickmers Holding. The purchase price...
Written on 09/08/2017, 21:06
qatar-lifts-visa-requirement-for-latam-marketDOHA: August 09, 2017. Qatar Airways has introduced visa-free entry for citizens from 80 countries with those from the EU, Switzerland and Turkey allowed...
Written on 09/08/2017, 16:48
freightweek-news-update-week-32LONDON, Heathrow: August 12, 2017. To celebrate World Elephant Day and help stop illegal trade of wildlife, Heathrow has installed a pop-up interactive...
Written on 08/08/2017, 21:57
another-record-ebit-for-deutsche-post-dhlBONN: August 08, 2017. Deutsche Post DHL (DPDHL) has reported a 4.7 percent increase in net profit to €1.18 billion on a 5.8 percent rise in revenue to...
Written on 07/08/2017, 21:23
amazon-operator-atsg-to-add-a321-freighter-conversionsBEAVERTON, OR/WILMINGTON, OH: August 07, 2017. Conversion specialist Precision Aircraft Solutions (PAS) and Air Transport Services Group (ATSG) have...
Written on 03/08/2017, 20:14
cargo-still-challenging-despite-turnaround-says-lufthansaFRANKFURT: August 03, 2017. The Lufthansa Group has reported a 99 percent rise in pre-tax profit to €1.03 billion on a 12.7 percent increase in revenue to...
Written on 02/08/2017, 20:19
hong-kong-air-cargo-leases-atlasPURCHASE, NY: August 02, 2017. Atlas Air Worldwide Holdings (AAWH) has leased three B747-400 freighters under an ACMI contract beginning in September 2017...

- powered by Quickchilli.com -