FedEx requests EU approval for TNT bid

FedEx has reportedly asked the European Union’s competition regulator to approve its 4.4-billion euro ($4.9 billion) bid for TNT Express. According to Reuters and other sources, FedEx submitted its request to the European Commission on Friday (26 June) and the preliminary review will take about 25 working days – with a possible extension for another 10 days, if necessary.

FedEx will also be applying for clearance from the Dutch financial market authority AFM (TNT is head-quartered in the Netherlands) before the end of this month, according to reports.