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.
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