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Another delay for TNT takeover
[ September 10, 2012 // Chris ]EU regulators said on 5 September that they would extend their review of UPS’s proposed takeover of TNT Express , triggering an admission from the US parcels giant that the deal would not now be completed until early 2013, instead of the hoped-for deadline of late 2012. Brussels said that antitrust conditions will not be met by the end of the year.
UPS played down the significance of the announcement, saying that it was to be expected with a deal of this size and complexity.
One sticking point is US ownership of European-based TNT’s air operations.