Receive FREE Newsletter
Advanced Search
+

EU court paves way for $2bn UPS claim over TNT bid

default_image
© Khunaspix Dreamstime.
By

UPS could sue the EU for $2bn in damages after a court ruled that the European Commission wrongly vetoed UPS’s proposed takeover of TNT Express. Instead, FedEx paid €4.4bn for TNT in 2016. 

UPS said it would seek €1.74bn in damages after the European Court of Justice ruled it its favour, claiming procedural error by the commission. Reuters reports. 

Please Register

To continue reading, please login or register for full access to our free content
Loadstar subscriber
New Loadstar subscriber REGISTER

Comment on this article

You must be logged in to post a comment.

    Related Stories

    Topics

    EU FedEx UPS

    Most read news

    Transpacific set to see record level of ship capacity in July as rates crash

    MSC orders spark concerns of anti-competitive behaviour and an H2 rate drop

    Forwarders eye growth via M&A as deal activity builds

    Maersk fined $1.5m for 'gross negligence' over Damco merger

    Fruit ships and trucks steer clear of Del Monte bankruptcy

    Global contract logistics market hits record high as Asia Pacific drives growth

    Global shipping to shift as Europe and southeast Asia fill US gap in China trade

    European importers face backlogs as rail delays exacerbate port congestion

    EXCLUSIVE: Top DHL Global Forwarding executive in the US jumps ship

    The right customs plan will be a gamechanger, Maersk warns shippers

    Taiwanese shipping lines set to profit from proposed Vietnam tariff deal

    'Stable' Asia-Europe rates 'very different' to double-digit declines on transpacific

    US truckers: beware of cargo theft during July 4 celebrations

    Soft airfreight market casts doubt over H2 peak

    Dollar General submits $14.7m claim against Yang Ming over capacity shortfall

    African trade with Asia and Europe lights up as countries boost export verticals