FedEx CEO dismisses reports of Amazon challenge as fantastical

Dallas

WHEN FedEx Corp chief executive officer Fred Smith looks at Amazon.com Inc, he sees a valuable customer - not a mortal danger.

A major competitive threat from Amazon to FedEx or United Parcel Service Inc is unlikely because the online retailer would have to invest tens of billions of dollars and years of effort to build its own delivery network, Mr Smith said on Wednesday. Instead, Amazon is seeking better control of its inventory and "last-mile" shipments to customers, FedEx said.