Surprize! Fed Ex is already in Europe and planning on opening a Paris base. As to the poor performance, They expected a $1.90/share profit and only made it to $1.46 a share. Woe is me, Fed Ex still makes money, just not as much. When you take into consideration one time charges of, buying a large part of the ANG ramp, built two new hangers at MEM, aquired a very large portion of the IND ramp and the ATA hangar, bought a bundle of 757's and made down payments on 777's, not to mention the opening of Hong Kong base, aquistion of major cargo carriers in India and China, $1.46 a share looks pretty darn good to me. I think the reporter should do a lot better investigations before writing. All this is public record as readiliy available. And if the rumor is true, they are double the size of UPS when it comes to air cargo. European regulations, however, are another baliwick and I have no idea what they are.
Personally, I think it would be good for both parties.