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BRIEFLY / DELIVERY SERVICES

UPS Questions FedEx, Postal Service Alliance

September 08, 2000|Bloomberg News

United Parcel Service Inc., the world's largest delivery company, said a business alliance between its rival FedEx Corp. and the U.S. Postal Service could raise antitrust concerns. FedEx, the largest overnight delivery company and UPS' primary competitor, and the postal service said they are in talks about an arrangement to deliver each other's packages. Atlanta-based UPS isn't considering legal action to block any possible alliance, but it will be "a very interested observer" if an agreement is sent to Congress and the Postal Rate Commission for approval, an UPS spokesman said. FedEx shares fell 45 cents to close at $39.82, while UPS fell $1.25 to close at $54.56, both on the NYSE.

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