Feb 11 UTi Worldwide Inc UTIW.O said it
received a statement of objections from the European Commission
(EC), alleging infringements of European Union competition law
with respect to various surcharges.
In a regulatory filing, UTi said it was in the process of
reviewing the statement and intends to present its response in
The statement of objections, a formal step in the EC's
antitrust investigation, stems from the commission's probe into
alleged anticompetitive behavior by international air freight
Notices were also issued to other logistics companies DHL
(DPWGn.DE), Panalpina (PWTN.S), Kuehne & Nagel KNIN.VX and
DSV (DSV.CO) by the EC, charging them of illegally fixing
prices for air freight forwarding. [ID:nLDE6191MZ]
United Parcel Service Inc (UPS.N), the world's largest
package-delivery service, was also contacted by the EC.
Separately, Expeditors International of Washington Inc
(EXPD.O), which also received a similar statement, said it
intends to vigorously defend itself against the allegations.
"Should Expeditors be found to have committed an
infringement against European Union anti-competition laws, it
may result in material fines and penalties," the company said
Shares of UTi were trading down at $13.31 after the bell.
They closed at $13.48 Thursday on Nasdaq.
(Reporting by A.Ananthalakshmi in Bangalore; Editing by