SANDY SPRINGS (dpa-AFX) - Dutch package delivery company TNT Express NV (TNTEF.PK,TNTEY.PK) Monday said it has taken note of the appeal by United Parcel Service Inc. (UPS) to the European Court of Justice regarding the January 30 decision of the European Commission to prohibit the proposed acquisition of TNT Express by UPS.
According to TNT Express, it understands that the appeal is intended to clarify the EC's legal assessment of the dynamics of the European express market. It does not imply a renewal or reconsideration of the previously proposed UPS offer.
The merger agreement between TNT Express and UPS was terminated and the UPS offer was withdrawn following the EC decision in January.
TNT Express continues to focus on the execution of its updated strategy and profit improvement plan as announced on March 25, the firm added.
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