BRUSSELS Jan 14 The European Commission has
informed national competition regulators in the European Union
that it will block a 5.2 billion euro takeover of TNT
by U.S. delivery company UPS, a source familiar with the
matter said on Monday.
UPS and TNT announced earlier on Monday that they intended
to call off their merger after the Commission told them it was
likely to be blocked.
"The proposed decision is for a prohibition," said the
person, who declined to be named because of the sensitivity of
the matter, referring to a Commission block of a deal.
"The Commission has called for an advisory committee meeting
on Friday," the person added, saying that national regulators
would meet in Brussels to hear the Commission's reasoning.
The regulators' committee, which is made up of competition
experts from the EU's 27 member states, typically endorses the
The EU antitrust authority is expected to announce its
definitive decision as early as next week.