This post was originally published on this site
BRUSSELS (Reuters) – World No. 1 shipbuilding group Hyundai Heavy Industries Holdings Co Ltd’s (KS:) $1.8 billion merger with rival shipbuilder Daewoo is expected to face a full-scale investigation in Europe due to serious EU antitrust concerns, two people familiar with the matter said on Monday.
In January, Hyundai announced the deal to create the world’s biggest shipbuilder with a 21 percent market share, in part a response to the over-capacity in the industry. The European Commission will launch an investigation into the deal next week, the people said.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.