AMSTERDAM (Reuters) - United Parcel Services’ (UPS.N) appeal of the European Union regulator’s decision to block its bid for TNT Express TNTE.AS was not a renewal of the offer, the Dutch delivery company said on Monday.
U.S.-based UPS, the world’s No. 1 package delivery company, dropped its 5.16 billion euro (4.3 billion pounds) bid to buy TNT Express on January 14 because it expected an EU veto of the merger. The European Commission (EC) blocked it two weeks later.
UPS said on Sunday it had decided to challenge the EU’s decision because it wanted “to ensure a more accurate assessment of the EU competitive landscape and that no precedent is established by the EC that would limit international growth opportunities”.
TNT Express said in a statement the appeal was intended to clarify the EC’s legal assessment of the dynamics of the European express market.
“It does not imply a renewal or reconsideration of the previously proposed UPS offer,” TNT Express said.
Reporting by Gilbert Kreijger; Editing by Sara Webb