UPS (UPS +0.8%) faces a formal complaint from the European Union over its bid to acquire TNT...

|By:, SA News Editor

UPS (UPS +0.8%) faces a formal complaint from the European Union over its bid to acquire TNT Express, according to a report from the Wall Street Journal. The prize-winning political union doesn't think three heavyweights in the industry will be enough to provide fair competition on the continent, while UPS argues a broader definition of competitors should be applied.