Reuters: Regulatory News: TNT Express sells airlines operations ahead of UPS takeover

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TNT Express sells airlines operations ahead of UPS takeover Nov 16th 2012, 07:15 AMSTERDAM | Fri Nov 16, 2012 2:15am EST AMSTERDAM Nov 16 (Reuters) - Dutch delivery group TNT Express, which has agreed to be sold to U.S. rival UPS , said on Friday it has sold its airlines operations to ASL Aviation Group, a condition for the UPS deal. TNT Express and UPS had said in their takeover agreement that TNT's airlines operations would be sold to comply with European Union rules that forbid a non-EU entity from owning or controlling 50 percent or more of an EU airline operator.

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