The European Union
The proposed merger would have resulted in less competition and higher prices, the EU's antitrust chief said.
June 11, 2019 at 01:17 PM
1 minute read
The European Commission on Tuesday blocked a merger between Tata Steel and ThyssenKrupp, saying it would have raised prices for some products, while remedies proposed by the companies failed to address competition concerns.
In a statement, Margrethe Vestager, the EU’s antitrust chief, said European companies depend on competitive steel prices to sell products globally.
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