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China OKs FedEx-TNT deal

[ April 29, 2016   //   ]

FedEx and TNT Express have gained unconditional approval from China’s Ministry of Commerce (MOFCOM) for their merger. With one of the last obstacles overcome, the two express companies say that they have fulfilled all the requirements for competition clearance for the deal to go ahead, the authorities in Brazil, Europe and the US having already cleared the merger. TNT chief executive Tex Gunning said: “With this final regulatory approval, we are one step closer to making the vision of combining the complementary networks of FedEx and TNT Express a reality.”

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