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US regulators approve Fedex-TNT merger, EU antitrust approval expected
AMERICA's Fedex and Dutch counterpart TNT Express have won US antitrust permission to merge, according to a list of approved deals from the US Federal Trade Commission, Reuters reports.
The European Union has yet to sign off on the deal, although the companies have said they received assurances that EU regulators would allow it to go forward.
Fedex announced in April that it would buy TNT for US$4.8 billion to better compete in Europe. If approved, the deal will move FedEx to second place in European rankings behind world leading DHL.
The European Union has yet to sign off on the deal, although the companies have said they received assurances that EU regulators would allow it to go forward.
Fedex announced in April that it would buy TNT for US$4.8 billion to better compete in Europe. If approved, the deal will move FedEx to second place in European rankings behind world leading DHL.
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