UPS asks EU court to annul EC veto of 2013 TNT bid

In the light of Brazil’s green light for FedEx’s takeover of TNT, rival UPS has returned to appeal against the European Commission’s rejection of its own takeover bid for the Dutch integrator. At face value it seems a fair question: why block UPS’s takeover proposal because it would endanger competition, and not FedEx’s? “The takeover was blocked by the EC because it said UPS had not offered sufficient concessions to fend off competition concerns. The competition enforcer in January this year cleared the FedEx and TNT deal without setting any conditions. The commission’s decision is riddled with mistakes and weak legal arguments,” UPS is expected to tell the Luxembourg-based General Court.