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-   -   EU court annuls 2013 UPS+TNT veto decision (https://www.airlinepilotforums.com/ups/119309-eu-court-annuls-2013-ups-tnt-veto-decision.html)

whalesurfer 01-16-2019 05:40 AM

EU court annuls 2013 UPS+TNT veto decision
 
Interesting development. UPS might actually get some $$$ out of this?

___
BRUSSELS (Reuters) - Europe’s top court opened the way to a $2 billion damages claim by U.S. delivery company UPS (UPS.N) on Wednesday by annulling a 2013 decision to stop it buying Dutch firm TNT Express.

The European Court of Justice said the ruling followed a procedural error by the European Commission in its veto, which paved the way for FedEx Corp (FDX.N) to acquire TNT Express for 4.4 billion euros in 2016, a deal it approved.

UPS, which has said it is seeking 1.74 billion euros ($1.98 billion) from the European Commission, said it was pleased the court agreed that the company had been given a fair hearing.

“The judgment in UPS’s favor makes a number of points preserving a competitive environment in Europe by clarifying the procedure and relevant criteria for merger approval,” it said.

The Commission had rejected UPS’s planned 5.2 billion euro acquisition of TNT, saying it had not offered enough concessions to allay concerns that the deal would hurt consumers.

The court said the Commission had infringed UPS’s rights of defense by using a different econometric model in its analysis than that used in its exchange of views and arguments with UPS.

Wednesday’s ruling follows that of the General Court of the European Union, the EU’s second highest court, in 2017. The Commission had appealed against that ruling.

Reporting by Philip Blenkinsop; editing by Jason Neely and Alexander Smith
Our Standards:The Thomson Reuters Trust Principles.


https://www.reuters.com/article/us-e...urce=applenews

G550Guy 01-16-2019 05:39 PM


Originally Posted by whalesurfer (Post 2744035)
UPS, which has said it is seeking 1.74 billion euros ($1.98 billion) from the European Commission,


That’s a whole lotta Döner Kebabs.




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Tango Uniform 01-18-2019 12:22 PM

That should buy a few A350 Freighters, yep I said A350..... :)

CactusCrew 01-18-2019 12:38 PM


Originally Posted by G550Guy (Post 2744513)
That’s a whole lotta Döner Kebabs.




Sent from my iPhone using Tapatalk


More likely a whole lotta stock buybacks :D

Night_Hawk 01-19-2019 04:20 AM


Originally Posted by Tango Uniform (Post 2745600)
That should buy a few A350 Freighters, yep I said A350..... :)

Money is going to repair a couple of Dash 8s :(

whalesurfer 01-19-2019 08:54 PM


Originally Posted by Tango Uniform (Post 2745600)
That should buy a few A350 Freighters, yep I said A350..... :)

A350 freighter? Don’t see that option on Airbus’ site..

https://www.airbus.com/aircraft/freighter.html

Tango Uniform 01-20-2019 02:17 PM


Originally Posted by whalesurfer (Post 2746413)
A350 freighter? Don’t see that option on Airbus’ site..

https://www.airbus.com/aircraft/freighter.html

The bones were built for freight. Supposedly 90+t freighter. What a better launch customer than the one who launched the 75 and 76 freighter. Bus driver info

BoilerUP 01-20-2019 02:38 PM

The nonexistent A350-900F would (hypothetically) have about the same containerized volume as a MD11...but a wingspan 1’ longer than a 744F and 7” shorter than a 777F...


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