FedEx, UPS Complain to DOT About DHL
FedEx (FDX) and United Parcel Service (UPS) have asked the U.S. Department of Transportation to stop the U.S. air and freight forwarding activities of DHL Worldwide, the Wall Street Journal reported Wednesday.
FedEx reportedly complained that Brussels-based DHL International and Deutsche Post have taken effective control of U.S. affiliate DHL Airways, based in Redwood, Calif., in violation of U.S. law prohibiting foreign ownership of more than 25% of a U.S. air carrier.
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The companies filed those requests separately during the Clinton administration’s final week.
Deutsche Post (DPW-FRK), the recently privatized German postal service, has a 51% stake in DHL International, which in turn holds a 23% voting stake in DHL Airways, Bloomberg News reported.
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