NEW YORK, April 7 United Parcel Services Inc
has appealed the European Union regulator's decision to
block its 5.16 billion euro ($6.7 billion) bid for Dutch
competitor TNT Express NV, a UPS spokeswoman told
Reuters on Sunday.
U.S.-based UPS, the world's No. 1 package delivery company,
dropped its bid to buy the Dutch firm on Jan. 14, on the
expectation of an EU veto of the merger.
At that time, UPS and TNT Express said the European
Commission, the EU's executive body, had told the two firms it
was working on a decision to prohibit the proposed acquisition,
leaving them no choice but to abandon it.
UPS has decided to challenge the EU's decision because it
believes it was "factually and legally erroneous," Peggy
Gardner, a UPS spokeswoman, wrote in an e-mail to Reuters.
"We are challenging the decision in order to ensure a more
accurate assessment of the EU competitive landscape and that no
precedent is established by the EC that would limit
international growth opportunities," Gardner wrote.
UPS submitted its appeal to the European Commission last
week, Gardner said.
News of UPS' appeal was first reported by Bloomberg.