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TNT Express agrees to conditional sale of airline

Transportation

Friday, November 16, 2012

TNT Express, one of four integrated express delivery companies operating around the world, announced Friday it will sell in-house airline TNT Airways and Pan Air Lineas Areas SA to ASL Aviation Group on the condition that European Union regulators approve TNT's sale to rival UPS. UPS offered last spring to buy TNT for $6.5 billion, but EU competition authorities have yet to grant approval because of concerns the deal would leave consumers without viable alternatives for packa...

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