© Reuters. FILE PHOTO: The company logo for United Parcel Service (UPS), is displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., October 22, 2019. REUTERS/Brendan McDermid/File Photo
LUXEMBOURG (Reuters) – Europe’s second top court on Wednesday rejected world No. 1 logistics company United Parcel Service Inc (NYSE:)’s record 1.74-billion-euro ($1.98 billion) compensation claim from EU antitrust regulators for blocking its 2013 bid for Dutch rival TNT.
“The General Court dismisses two actions for damages brought by UPS and ASL Aviation Holdings,” the court said.
The European Commission had stopped UPS’ planned 5.2-billion-euro acquisition of TNT because it had not offered enough remedies to allay concerns that the deal would hurt consumers.
The cases are T-834/17 UPS v Commission and T-540/18 ASL Aviation Holdings and ASL Airlines v Commission.
($1 = 0.8810 euros)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment