FedEx Sends European Filings Concerning TNT Express -- Market Talk

2309 GMT [Dow Jones] FedEx on Friday submitted required regulatory filings to the European Commission necessary to move ahead with its previously announced deal to acquire parcel firm TNT Express for nearly $5 billion. While FedEx has said it is sure the deal will win the necessary approvals, recent comments by the European Union's top antitrust official signal it could face closer scrutiny than had been expected. EU antitrust chief Margrethe Vestager, who took office in November, has warned repeatedly that she would look closely at large mergers that could lead to higher prices for consumers. Because it has a smaller European network than UPS and less overlap with a since-weakened TNT, FedEx has said the scenario is far different from UPS's failed acquisition attempt. The UPS deal collapsed in part after it failed to find what regulators deemed appropriate buyers for some assets it needed to shed due to competitive reasons (@LauraStevensWSJ)

Subscribe to WSJ: http://online.wsj.com?mod=djnwires