The European Union's executive opened an
antitrust investigation Friday on the proposed takeover by U.S. parcel
delivery giant UPS of its Dutch rival TNT Express, citing market
The 5.16-billion-euro (6.28-billion-dollar) deal was announced in March.
But in a statement, the European Commission pointed to "potential competition concerns in the markets for small parcel delivery services, in particular international express services ... where the parties would have very high combined market shares."
The E.U. executive added that it would decide by Nov. 28 whether to let the deal go through or not.
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