UPS submits new TNT Express plan UPS, one of the world's largest package delivery companies by revenues, has sent to the European Commission a new offer to win EU regulatory approval for its €5.2bn acquisition of TNT Express, people close to the matter said. The US company has offered fresh concessions to selling part of its European assets and guarantee competitors access to the air transport market in its latest bid to overcome the commission's objection to take over its Dutch rival. "We made our offer over the weekend and we are hopeful that it will provide the remedies necessary to move the deal forward," said a person close to the matter. People familiar with the negotiations said that UPS is ready to dispose substantially more assets - predominantly in eastern Europe - than the 12 previously offered. However despite the new concessions, UPS will have to convince Joaquín Almunia, the EU's antitrust chief, that enough safeguards have been put in place to maintain an acceptable level of competition throughout Europe. "It still remains to be seen whether appropriate solutions will ultimately address our concerns for express-parcel deliveries in Europe," Mr Almunia said earlier this month. Brussels is concerned that UPS's takeover of TNT would reduce the number of key players capable of the full range of parcel delivery services across the continent to only three, making Germany's Deutsche Post's DHL and the US's FedEx the main competitor in Europe to US. The European Commission, the EU's executive arm, and UPS declined to comment. TNT shares rose as much as 4.3 per cent to €8.27 euros, according to Bloomberg, trading below the €9.50 per share offer made by UPS.