EU trust busters delay UPS buyout of TNT over market dominance concerns

EUROPE's anti-competition watchdog is to launch an in-depth investigation into the United Parcel Service's (UPS) acquisition of Dutch rival TNT express for US$6.8 billion, thus ending hopes of having a done deal by the end of the year.

The European Commission is to use this extension of its probe to review additional information over concerns of market dominance in international express deliveries, particularly small packages, in several European markets. The US-based delivery company, under European law, cannot own TNT's airline operations.

UPS will extend offer period for the TNT Express's airline operations if the deal isn't met by deadline of November 9.