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Europe to decide on FedEx, TNT acquisition by January 13

Staff writer |
European Union antitrust regulators will decide by January 13 whether to clear FedEx's 4.4-billion-euro ($4.9 billion) bid for Dutch rival TNT after the logistics companies asked for more time.

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The European Commission opened an in-depth investigation into Fedex's takeover in July.

The European Commission opened a full-scale probe last month, concerned that the deal would lead to higher prices for businesses and consumers because the merged company would only compete with UPS and DHL, a unit of Deutsche Post.

"The parties have requested a 20-day extension for the phase II investigation, as they are entitled to do according to the merger regulation," Commission spokesman Ricardo Cardoso said on Friday.

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