UPS files appeal in Brazil regarding FedEx’s acquisition of TNT Express
FedEx and TNT Express N.V. announced this morning (18 February) that a third party has filed an appeal regarding the Brazilian regulator Conselho Administrativo de Defesa Econômica’s (CADE) unconditional approval of the FedEx/TNT merger. As previously reported, the unnamed third party is understood to be UPS.
In a joint statement issued this morning, FedEx and TNT said that they “remain confident that the Offer will close in the first half of calendar year 2016” – and a TNT spokesperson confirmed to Post&Parcel that this was still the very much the schedule that the two companies were working on.
