EU opens probe on Ilva acquisition (2)

Brussels fears price hike after merger

(ANSA) - Brussels, November 8 - The European Commission on Wednesday said it has opened an in-depth investigation into the proposed acquisition of Ilva by ArcelorMittal under the EU merger regulation.
    The Commission is concerned that the merger could reduce competition for a number of flat carbon steel products.
    In particular, the Commission said it is worried that consumers could be exposed to a price hike, especially in southern Europe.
    The transaction would give ArcelorMittal, a major producer of flat carbon steel in Europe and the world a significant increase in market leadership.
    Ilva's steel plant in the southern Italian city of Taranto is Europe's largest single-site integrated plant.