By Gabriele Steinhauser
BRUSSELS--The European Commission on Friday opened an in-depth
investigation into FedEx Corp.'s EUR4.4 billion ($4.8 billion) deal
to buy TNT Express NV, saying it was concerned about the merged
company's dominance in the international delivery of small packages
in some European markets.
The commission, the European Union's antitrust watchdog, said
the two remaining international delivery companies, United Parcel
Service Inc. and DHL Worldwide Express Inc., may not provide
sufficient competition to the merged company.
"This could lead to higher prices for business customers and
consumers," the commission said.
The commission now has until Dec. 8 to investigate the proposed
acquisition and to decide whether to approve the deal or ask the
companies for concessions to ease its concerns.
The two companies announced the deal in April.
Write to Gabriele Steinhauser at
gabriele.steinhauser@wsj.com
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