TNT Express sells airlines operations ahead of UPS takeover
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.
- WTO overcomes last minute hitch to reach its first global trade deal
- Colorado baker discriminated by denying gay couple wedding cake: judge
- Flights delayed as air pollution hits record in Shanghai
- U.S. freeze shows no sign of weekend melt after deadly storm
- Australia foreign minister downplays China air defense zone tension in visit