France investigating package delivery companies - 13 WTHR Indianapolis

France investigating package delivery companies

Posted: Updated:
  • NationalMore>>

  • Broken water main floods UCLA; 5 people rescued

    Broken water main floods UCLA; 5 people rescued

    Wednesday, July 30 2014 12:27 AM EDT2014-07-30 04:27:07 GMT
    A broken water main near the UCLA campus Tuesday sent a geyser of water some 30 feet into the air, forced the rescue of people trapped in underground parking garages and covered some of the best-known parts of...More >>
    A broken water main near the UCLA campus Tuesday sent a geyser of water some 30 feet into the air, trapping people in underground parking garages and covering some of the best-known parts of campus in water, including the...More >>
  • 4 teens charged with murder in USC student's death

    4 teens charged with murder in USC student's death

    Tuesday, July 29 2014 11:21 PM EDT2014-07-30 03:21:42 GMT
    Four teens were charged Tuesday with murder in the fatal beating of a University of Southern California graduate student with a baseball bat and wrench as he walked to his off-campus apartment after meeting with a...More >>
    Four teens were charged Tuesday with murder in the beating of a University of Southern California graduate student with a baseball bat and wrench as he walked to his off-campus apartment after meeting with a study group.More >>
  • Man wrongly imprisoned seeks millions from state

    Man wrongly imprisoned seeks millions from state

    Tuesday, July 29 2014 10:15 PM EDT2014-07-30 02:15:45 GMT
    A man who was imprisoned 21 years for a rape and murder he didn't commit is set to testify at a first-ever Connecticut hearing to determine how much he should be compensated.More >>
    A man cleared of murder and rape charges after being locked up for two decades made an emotional appeal for millions of dollars in compensation on Tuesday, telling the state claims commissioner about the fear he endured in...More >>

PARIS (AP) - Three of the world's leading package delivery businesses are being investigated by France's competition watchdog, and may face fines.

U.S.-based FedEx Corp., TNT Express NV from the Netherlands and Britain's Royal Mail PLC are all under investigation for unidentified malpractices.

Yannick Le Dorze of the French Competition Authority said Wednesday that an investigation is underway, but would not name the companies targeted or say what they are suspected of doing. He said it could take months before the probe is concluded.

FedEx, TNT Express and Royal Mail said in statements they could suffer "material" losses after receiving a notice from the French authority alleging breaches of anti-trust rules. The three companies all said they were cooperating with the competition authority.

The French authority, whose investigations can last years, notably sanctions companies for price-fixing and cartel activity.

FedEx said it received a notice June 30 about an investigation into "anticompetitive behavior that is alleged to have occurred primarily in the framework of trade association meetings" involving general managers of Tatex, which it bought in 2012.

In a statement Wednesday, FedEx "expressed concerns that an investigation involving a company it acquired is being conducted," and said the probe involves a period predating its purchase of Tatex.

Shares in Royal Mail and TNT dropped when European markets opened Wednesday on news of the probe, then rallied.

Royal Mail shares were down 1.1 percent at 483 pence in early afternoon London trading Wednesday. TNT shares fell 1.3 percent to 6.39 euros.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow