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Brazil rejects UPS appeal, FedEx-TNT merger deal is good to go
BRAZILIAN regulator Conselho Administrativo de Defesa Economica (CADE), has rejected a United Parcel Service (UPS) appeal to block the proposed FedEx take-over of TNT Express, which already had been approved on February 2.
With Brazil's approval upheld by CADE, this leaves only China to block the proposed merger announced last year, reported New York's Air Cargo World.
FedEx and TNT said both companies "have obtained unconditional competition approval in the EU, Brazil and the US and continue to work with regulatory authorities for clearance of the transaction in the remaining relevant
With Brazil's approval upheld by CADE, this leaves only China to block the proposed merger announced last year, reported New York's Air Cargo World.
FedEx and TNT said both companies "have obtained unconditional competition approval in the EU, Brazil and the US and continue to work with regulatory authorities for clearance of the transaction in the remaining relevant
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