United Parcel Service (UPS) Widens Scope Of Express Service (revised)
Zacks Investment Research | Mar 01, 2018 12:26AM ET
In a customer-friendly move, United Parcel Service, Inc. (NYSE:UPS) has broadened the reach of its UPS WorldWide Express Service. Following the expansion, the service can be availed in 124 countries and territories across the globe. The measure aims to facilitate the delivery of urgent shipments in markets offering high-growth potential.
In fact, UPS seems to be constantly expanding the scope of this service as it is highly favored by companies for global shipments that are time-sensitive by nature. Depending on the destination, customers availing of this service are guaranteed delivery within 1-3 business days by 10:30 a.m., noon, or 2 p.m.
Last year, the UPS Express Service was added to 7,000 postal codes in 57 countries and territories, including the likes of India, Brazil and South Korea.
European Union Sued by UPS Over TNT Acquisition Blockade
Apart from the above expansionary measure, UPS was in the news when it reportedly sued the European Union to the tune of approximately 1.7 billion euros ($2.1 billion) plus interest and taxes. UPS is asking for the amount to compensate it for wrongly blocking its attempts to take over Dutch delivery firm TNT Express. We remind the investors that UPS’ efforts to acquire TNT Express were thwarted by European regulators in 2013.
The regulators had blocked deal citing UPS’ massive European presence. They were of the opinion that the materialization of the deal would lead to limited competition in the European delivery market.
In the previous year, an EU court had stated that it was wrong on the part of European Commission to block the deal from materializing, per a Zacks Investment Research
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