(MENAFN) FedEx has rejected a bid from rival United Parcel Service to buy TNT Express, 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.
The European Commission (EC) is concerned that USD6.8 billion acquisition offer by UPS would leave only two other big players, Deutsche Post AG's DHL and FedEx.
In November, UPS and TNT said they planned to sell assets in order to meet European anti-trust concerns.
A TNT spokesman declined to comment on the FT report but said UPS and TNT were fully committed to the deal and were working closely with the EC.
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