TNT and UPS offer new concessions

The delivery giants United Parcel Service and TNT Express offered fresh concessions to Brussels yesterday as they struggle to get their merger past European regulators.

UPS and TNT said they would sell assets and open up their air flight operations, but gave few other details, Analysts were unimpressed. André Mulder, of Kepler Capital, said he doubted "whether that is sufficient to please the EC", adding: "We remain negative on the chance of success."