Reuters: Regulatory News: EU regulators broaden probe into UPS, TNT deal

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EU regulators broaden probe into UPS, TNT deal Jul 20th 2012, 15:47 BRUSSELS, July 20 | Fri Jul 20, 2012 11:47am EDT BRUSSELS, July 20 (Reuters) - EU antitrust regulators stepped up their investigation into a 5.2-billion-euro ($6.4 billion) bid by United Parcel Service to buy Dutch peer TNT Express on Friday, saying they were concerned about the combined company's high market share. UPS, the world's No. 1 package delivery company, said last week that it expected the European Commission to open a lengthy in-depth investigation into the deal. T he EU watchdog launched a preliminary review in June. The Commission said it was worried about potential competition issues in the small package delivery sector, particularly international express services in some EU countries where the combined company would have very high market shares. The EU executive said it would decide by Nov. 28 whether to clear the deal. The acquisition of TNT will reinforce UPS's global market share and give it access to the Dutch company's stronger networks in fast-growing Asian and Latin American markets. Analysts have said UPS would need to sell assets to soothe regulatory concerns about its largest ever deal. German rival Deutsche Post has expressed worries about the combined group's strong power in a limited market.

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