UPS offers more EU concessions to secure TNT deal - sources

BRUSSELS Tue Dec 18, 2012 4:47am EST

BRUSSELS Dec 18 (Reuters) - United Parcel Service Inc has offered more concessions in a bid to gain EU regulatory approval for its 5.2-billion-euro ($6.84 billion) TNT Express bid, two persons familiar with the matter said on Tuesday.

The world No. 1 package delivery company submitted its latest offer to the European Commission on Monday, one of the sources said.

"The remedies are substantially improved," the second person said, declining to provide details because of the sensitivity of the matter.

Last month, UPS said in an initial offer it was willing to sell assets and open up its flight operations to rivals. Sources said at the time that these included divesting warehouses and customer bases in about 15 countries mainly in eastern Europe.

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