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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
dominance concerns.
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.
