TNT Express shares fall after report EU to object to UPS bid
AMSTERDAM, Oct 10 (Reuters) - Shares in Dutch delivery group TNT Express fell as much as 2.5 percent on Wednesday after the Financial Times reported the European Union would object to American rival UPS's 5.2 billion euro ($6.7 billion) bid for TNT.
EU antitrust regulators in July stepped up the probe into the transaction, the biggest in UPS's 105-year history, citing worries about concentration in the small package delivery sector.
TNT Express shares were down 0.8 percent at 8.09 euros by 0711 GMT, compared with UPS's bid of 9.50 euros per share. TNT Express shares have been trading below 9 euros since the end of July. ($1 = 0.7754 euros)
(Reporting by Gilbert Kreijger; Editing by Alison Birrane)
Keywords: TNTEXPRESS UPS/