World No. 1 shipbuilding group Hyundai Heavy Industries Holdings’ US$1.8 billion merger with rival Daewoo could inflate prices, EU antitrust regulators warned on Tuesday, December 17, as they opened a full-scale investigation.
According to Reuters, Hyundai is seeking to reinforce its position as the world’s biggest shipbuilder partly in response to overcapacity in the industry. The merged company would have a 21% market share,
The European Commission stated it had serious concerns about the deal, confirming a Reuters story on December 9.
“Cargo shipbuilding is an important industry for the European Union,” Margrethe Vestager, vice president of the European Commission, said in a statement.
Much of the EU’s internal and extend freight trade went by sea and European shipping companies regularly purchased vessels from Hyundai and Daewoo.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Probes Lindab’s Acquisition of HAS-Vent Amid Fears of Market Monopoly
Apr 28, 2024 by
CPI
Shein Faces EU Regulations Over User Data
Apr 28, 2024 by
CPI
Google Fights Back Against US Antitrust Lawsuit
Apr 28, 2024 by
CPI
US Homeland Security Establishes Blue-Ribbon Board with Tech CEOs to Advise on AI
Apr 28, 2024 by
CPI
FTC Accuses Amazon Executives of Using Disappearing Messaging Apps to Conceal Evidence
Apr 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI