FedEx not interested in TNT

FedEx wants a bigger share of TNT, according to reports

assets DHL European Commission FedEx TNT Express UPS

FedEx has been approached informally by UPS (United Parcel Service) to buy a part of TNT Express assets but it has refused the overture, according to the Financial Times. That will make it difficult for UPS to get the clearance from the competition watchdog European Commission (EC) to take over TNT. Apparently, FedEx wants a larger share of TNT’s business. The EC will find it difficult to give the nod to UPS since the $6.8 billion takeover would only leave two big players: DHL and FedEx.