ThyssenKrupp, Tata Steel Merger In Doubt -FT
May 06 2019 - 2:46AM
Dow Jones News
--The European Commission looks "increasingly likely" to block
the pending steel merger between Germany's ThyssenKrupp and India's
Tata Steel unless the two companies offer greater concessions, the
Financial Times reports, citing unnamed sources.
--European antitrust authorities are concerned the joint venture
to create Europe's second-largest steel producer would result in
less choice and higher prices for steel in the car industry and
electrical products as well as for coated steel, according to the
FT.
--While more concessions are possible, further disposals on the
part of ThyssenKrupp could undermine the rationale for the deal,
and Tata's labor unions have already threatened not to support it
over existing concessions, the FT reports.
Full story: https://on.ft.com/2DPwfMZ
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(END) Dow Jones Newswires
May 06, 2019 02:31 ET (06:31 GMT)
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