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...