Possible appeal against FedEx/TNT merger?
A report on the M&A online news service CTFN has suggested that UPS could file an appeal against the decision by Brazil’s regulator CADE to approve FedEx’s merger with TNT Express. The Brazilian regulator – whose full name is Conselho Administrativo de Defesa Econômica – issued its approval on 2 February. Any appeal has to be lodged within 15 calendar days of the official publication of the decision.
The CTFN report said that it had been informed of the possible UPS appeal by “two Sao Paolo-based competition lawyers” and it also reported that UPS lawyers had met with three tribunal commissioners last week.
There has been no official comment from UPS.
As previously reported, FedEx and TNT have also secured key approvals from the European Union and US, and they are awaiting a decision from China.