UPS to defend TNT takeover Nov. 12 says EU Commission
BRUSSELS Nov 7 (Reuters) - United Parcel Service will seek to convince sceptical EU regulators about its proposed 5.2 billion euros ($6.7 billion) takeover of TNT Express at a closed-door hearing on November 12.
The European Commission last month warned the world's No. 1 package delivery firm about the combined companys' high market share and would be seeking concessions before it would approve the deal.
Analysts said the merged entity would control a quarter of the market, ahead of Deutsche Post unit DHL's 19 percent.
The EU authority detailed potential problems in a 360-page confidential statement of objections or charge sheet, focusing on the intra-European express delivery market, according to sources.
UPS is likely to offer concessions after the hearing towards the end of November. The TNT deal is the biggest in the U.S.-based company's 105-year history. FedEx also competes with UPS.
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