"UPS had a different level of concentration of position in the market than FedEx does, so we're very comfortable that our position in the market with TNT does not create an issue from a competitive standpoint," explained David Cunningham, executive vice president and chief operating officer of FedEx Express, at the Asia-Pacific Economic Cooperation (APEC) CEO Summit.
Announced in April this year, FedEx's $5 billion acquisition of TNT could create Europe's second-biggest delivery services business, according to Reuters.
Last month, FedEx and TNT announced that their deal faced no backlash from European antitrust regulators—a stark contrast to 2012 when UPS made its own offer for the Dutch firm.
Back then, worries about competition forced European regulator to reject the Atlanta-based package delivery firm's $6.7 billion bid for TNT. Under UPS' proposition, the combined entity would have controlled more than 30 percent of the European international express market, versus just 17 percent under FedEx's deal, Reuters reported this year.