 "joint venture, mergers")
German steel giant ThyssenKrupp said on Tuesday that it has submitted a comprehensive package of proposed solutions to the European Commission to obtain clearance for the merger of the two steel majors Thyssenkrupp Steel Europe and Tata Steel Europe.
The Commission opened an “in-depth” investigation into the proposed merger in October last year amid concerns that the deal may reduce competition in the supply of various high-end steels.
Following an agreed extension last month for further negotiations, ThyssenKrupp confirmed it had submitted a “substantial” offer to the European Commission – the executive arm of the 28-member economic bloc.
The Commission opened an “in-depth” investigation into the proposed merger in October last year amid concerns that the deal may reduce competition in the supply of various high-end steels.
Following an agreed extension last month for further negotiations, ThyssenKrupp confirmed it had submitted a “substantial” offer to the European Commission – the executive arm of the 28-member economic bloc.
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