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US parcel giant UPS has pulled out of its proposed

17th january 2013
Page 5
Page 5, 17th january 2013 — US parcel giant UPS has pulled out of its proposed
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US parcel giant UPS has pulled out of its proposed €5 .16bn takeover of TNT Express. The European Commission (EC) is expected to prohibit the planned merger, as the resulting company would not be challenged enough by other parcel firms. UPS will pay TNT a €200m (£165m) termination fee when the EC issues its decision, the parcel firms said.


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