EU denies report it will block TPG, UK Post Office venture
The European Commission has not drawn up a recommendation to block the postal joint venture between TNT Post Group NV (TPG) and the UK Post Office, as the Wall Street Journal reported, a commission spokesman said.
A statement of objections, setting out the commission’s fears that the deal
could strengthen the companies’ outgoing international business mail activities in the UK and the Netherlands, was sent out to the parties in mid-January, he confirmed.
The parties have until tomorrow night to submit remedies, which will then
have to be market-tested, he said.
He declined to comment on the nature of remedies which could actually
resolve the competition problems.
“I cannot tell what remedies can resolve them. There is always a wide scope
of imagination,” he said.
“The commission has requested extra information, which we have supplied to
them. Negotiations with the commission are on-going,” said Post Office
spokeswoman Christine Gregory, declining to disclose any further details.
“We are hopeful they’ll approve” the planned joint venture, she said.
The commission has until March 27 conditionally to clear or block the
planned joint venture.
de/jsa
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
RBC NEWS, 26th February 2001
