On Tuesday europe’s second highest court annulled on Tuesday a 2013 decision by EU regulators to block US package delivery company United Parcel Service’s bid for Dutch peer TNT, citing a procedural irregularity in the process.
“The Commission infringed UPS’s rights of defence by relying on an econometric analysis which had not been discussed in its final form during the administrative procedure,” judges at the Luxembourg-based General Court said.
The EU veto paved the way for US rival FedEx to acquire TNT last year, a deal given the green light by the Commission.
Full Content: Financial Times
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