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EU: Thyssenkrupp still hopeful deal with Tata will go through

 |  May 5, 2019

ThyssenKrupp said on Sunday it still saw scope for agreement with European antitrust regulators on a planned joint venture with Tata Steel despite a Financial Times report that Brussels was likely to block the deal.

Tata Steel and ThyssenKrupp have proposed combining their steel operations in Europe to form the region’s second-biggest steelmaker. However, the landmark deal has not yet been approved because of concerns about its impact on competition.

Earlier on Sunday, the Financial Times reported that EU antitrust regulators were concerned the deal would lead to less choice and higher prices for steel and were increasingly likely to block it unless the companies offered greater concessions.

A ThyssenKrupp spokesman said: “The Competition Commission has taken the reworked commitments proposed by ThyssenKrupp and Tata Steel as an opportunity to conduct another market test.”

Full Content: Reuters

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