UPS appeals Brussels decision to block its merger with TNT Express: The American courier and logistics company United Parcel Service (UPS) has decided to file an appeal before the European Justice against the decision “erroneous both in fact and in law” of the European Commission to block its merger plans with the Dutch TNT Express.
“UPS has appealed the EC’s decision to prohibit the acquisition of TNT, as we consider that the decision was wrong both in fact and in law,” UPS spokeswoman Peggy Gardner told Europa Press.
In this sense, Gardner specified that with this appeal, which could take years to resolve, UPS intends to achieve a “more adequate” assessment of the competitive reality by the EU authorities.
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Likewise, the spokeswoman stressed that, in this way, the Brussels decision “does not serve as a precedent”, something that would limit growth opportunities.
“If the appeal is successful, the ban would be overturned, which would essentially mean that the previous decision could not be used as a basis for future EC rulings,” he added.
The decision of the world’s largest parcel company comes just two months after Brussels thwarted the merger between UPS and TNT, through an operation valued at 5.16 billion euros, for fear that it would harm competition in the sector.
However, Gardner specified that the filing of this appeal, the resolution of which could take years, should not be seen as a sign of renewed interest in the purchase of TNT Express. Check to upsers.red for getting more updates about UPS. Keep in touch with upsers.red for getting more updates about UPS.