China also approves acquisition of TNT – NU.nl

Also has given unconditional approval to the Chinese Ministry of Commerce, the US company announced on Friday.

The European and US competition authorities agreed earlier with the acquisition of TNT. Recently, the regulator in Brazil went after additional investigation was requested by rival UPS, also agreed.

Shareholders of TNT have until May 13 the time to sign up their pieces for the acquisition. Per share they receive 8 euros. The total acquisition price is thus around 4.4 billion euros.

With the consent of China is the combination of the global transportation networks of FedEx and TNT step important step closer, said CEO Tex Gunning TNT . He stressed that the acquisition of added value for shareholders, customers and employees of the company.

A takeover of TNT by UPS bounced off earlier to competition concerns. The European Commission found that competition in the parcel market would be there too suffer. Against that decision, UPS still running a case before the European Court of Justice

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By: Reuters