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FedEx to buy TNT for $4.8 billion to take on rivals in Europe

FedEx Corp is to buy Dutch package delivery firm TNT Express for an agreed 4.4 billion euros ($4.8 billion), stepping up the challenge to rivals United Parcel Service and Deutsche Post in Europe. European regulators blocked a 2013 takeover of TNT by UPS due to concerns it would stifle competition, but analysts and executives said on Tuesday FedEx, with its strong air fleet, would complement TNT …

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