European Commission approves TNT Express, FedEx merger

In a joint statement on Friday, TNT Express and FedEx said they have been given unconditional approval from the European Commission for their proposed merger after it concluded that it does not raise competition concerns.

“We are extremely pleased to receive the European Commission’s unconditional approval,” said David Binks, FedEx Express’s regional president for Europe.

“We believe the combination of TNT Express and FedEx will provide significant value to the employees, customers and shareholders of both companies.”

The companies said they continue to work constructively with the regulatory authorities to obtain clearance in the remaining jurisdictions, including Brazil and China.

“FedEx and TNT Express are making timely progress and continue to anticipate that the offer will close in the first half of calendar year 2016.”

FedEx announced last April that it would buy TNT for €4.4bn (£3.2bn).