Thyssenkrupp, Tata Steel to get EU warning on steel joint venture — sources
European Commission, the anti-trust regulator, could veto their planned steel project unless the two companies offer concessions
Brussels — Germany’s Thyssenkrupp and India’s Tata Steel will be warned this week that EU antitrust regulators could veto their planned European steel joint venture unless they offer concessions, people familiar with the matter said on Monday. The European Commission is expected to send a charge sheet known as a statement of objections to the companies, the people said. Such documents set out serious competition concerns which companies have to address with specific concessions or see their deal blocked. Thyssenkrupp said it was the group’s understanding that such a statement would be sent by the European Commission in the course of the week, adding this was previously expected and would serve as the basis for further talks. “As soon as the statement of objections has arrived we will thoroughly examine the commission’s arguments,” a spokesperson for Thyssenkrupp said, adding the group continued to be confident that the transaction could be closed in early 2019. The joint venture, an...
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