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EU: Commission to force concessions on top shipping container deal

By  |  September 7, 2014

Unnamed sources say the European Commission is set to clear a proposed merger between two of the world’s largest shipping container companies with certain concessions, according to reports.

Hapag-Lloyd and Compania SudAmericana de Vapores are planning on a merger that would create the world’s fourth-largest firm in the industry. Reports say the deal would be instrumental to boosting a slumping global market.

Sources said Friday that the Commission will clear the merger but will require the firms to divest certain operations in overlapping jurisdictions.

The Commission is scheduled to rule on the deal, which has already received approval by the US, by September 11.

Full content: Reuters

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