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Informal approaches by United Parcel Service to FedEx to sell a package of TNT Express assets have been rebuffed by its US rival, making it potentially harder for UPS to win approval for its takeover of the Dutch delivery group, the Financial Times reported.

FedEx is refusing to engage in serious talks unless they cover a bigger slice of the TNT business, the newspaper said on Tuesday.

The European Commission (EC), Europe's competition watchdog, is worried that the 5.2 billion euros (US$6.8 billion) takeover by UPS, the world's No 1 package delivery company, would leave only two other big players, Deutsche Post AG's DHL and US-based FedEx.

In November, UPS and TNT said they planned to sell assets in order to meet European anti-trust concerns. Analysts and investors have said that FedEx wants the takeover to be blocked.
GOD BLESS AMERICA!!
GO UPS!!
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