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Tata Steel, Thyssenkrupp set to get EU warning on steel JV: Report

The European Commission is expected to send a charge sheet known as a statement of objections to the companies.

Foo Yun Chee | Reuters  |  Brussels 

steel, liberty house group, Adhunik Metaliks
Liberty House had earlier offered to pay in tranches

EU antitrust regulators will likely warn this week Germany's and about their landmark joint venture unless they pre-empt the move by offering 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 have to address with specific concessions or see their deal blocked.

The joint venture, announced in June last year, is the biggest shake-up in Europe's industry in more than a decade. To be named Tata Steel, the entity will have around 48,000 workers and about 17 billion euros ($19.2 billion) in sales.

The EU competition enforcer opened an in-depth investigation into the deal in October last year and singled out issues in for car parts, packaging such as food and aerosol cans and electrical steel for engineering products including transformers.

The Commission did not immediately respond to a request for comment.

First Published: Mon, February 11 2019. 17:39 IST
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