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Europe Daily Bulletin No. 12272

12 June 2019
Contents Publication in full By article 1 / 34
ECONOMY - FINANCE - BUSINESS
COMPETITION: Commission blocks proposed joint venture between Tata Steel and ThyssenKrupp
Brussels, 11/06/2019 (Agence Europe)

On Tuesday 11 June, the European Commission banned the proposed creation of a joint venture by Tata Steel and ThyssenKrupp in light of EU competition rules. 

This deal “would have harmed European competitiveness in this sector [steel] and led to higher prices for consumers buying canned food and cars”, said Competition Policy Commissioner Margrethe Vestager at a press conference.

The prohibition of mergers is quite rare, as the Commissioner pointed out. “It is only the tenth merger...

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