Firm trying to block approval of FedEx-TNT merger in Brazil may be UPS

© Steve Allen

It looks as if UPS is trying to throw a spanner in the works of FedEx’s proposed takeover of TNT. In a joint statement this morning the merging pair noted that in Brazil, “a third party has filed an appeal of the unconditional approval of the offer by Conselho Administrativo de Defesa Econômica (CADE), which was announced on 2 February.” Rumours that it was UPS began yesterday and, according to this article, UPS is the only company eligible to appeal. FedEx and TNT added that they were also working with authorities in China, the only country not to have yet approved the deal.