EU opens in-depth investigation into German copper merger
Add BT as a preferred source[BRUSSELS] The European Commission said on Monday it had started an in-depth investigation into German copper producer KME's purchase of German peer Mansfelder Kupfer und Messing (MKM), noting it was concerned such a deal would reduce competition.
The Commission, which acts as the competition watchdog in the European Union, said it was worried the combination of the two companies could lead to higher prices for rolled copper products and sanitary copper tubes.
"The transaction would eliminate competition between the companies in many EU countries where the supply of sanitary copper tubes is already particularly concentrated," the Commission said.
The Commission now has until November 29 to assess the deal.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
New EC rules to cool prices: MOP doubled to curb flipping, no more deferred payments and more units for first-timers
Singapore Instagram seller must pay Louis Vuitton S$510,000 in damages over counterfeit goods case
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
