UPS reportedly suing EU for €2.1bn over vetoed TNT bid
UPS is reportedly suing the European Union over the European regulators’ decision to veto its projected take-over of TNT Express.
According to an article published by Bloomberg earlier today, UPS is asking for €1.7bn ($2.1bn) in compensation .
UPS filed its lawsuit in December, and details of the case were published in an EU General Court filing today.
“The compensation being sought corresponds to what we believe, through objective assessments verified by expert third parties, to be the value of the opportunity wrongly prohibited by the European Commission,” UPS was quoted as saying.
