EU antitrust regulators block Hyundai, Daewoo tie-up

HD Hyundai

13/01/2022 12:08

BRUSSELS, Jan 13 (Reuters) - EU antitrust regulators on
Thursday blocked South Korean shipbuilder Hyundai Heavy
Industries'  267250.KS  proposed acquisition of rival Daewoo
Shipbuilding & Marine Engineering Co Ltd  042660.KS , saying the
deal would hurt competition.
     The European Commission said the companies did not make a
formal offer of remedies to address competition concerns.
    Reuters reported on Dec. 10 that the deal would be blocked
by the EU executive.  urn:newsml:reuters.com:*:nL1N2SV1HA

 (Reporting by Foo Yun Chee)
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))