EU antitrust regulators close investigation into wood pulp makers

Metsa Board Oyj

15/06/2023 11:22

BRUSSELS, June 15 (Reuters) - EU antitrust regulators
have closed a two-year long investigation into several wood pulp
companies due to insufficient evidence.
    The European Commission, which acts as the competition
enforcer in the European Union, raided several companies in 2021
on suspicion that they may have operated a cartel.
    It did not name the companies. Finland's Stora Enso
 STERV.HE  and UPM  UPM.HE  and Metsa Board's  METSB.HE  Metsa
Fibre had confirmed the dawn raids.
    "After a thorough analysis and careful assessment of all the
evidence gathered, the Commission has concluded that there is
insufficient ground to further pursue the investigation," the EU
antitrust watchdog said in a statement on Thursday.
    "The closure of the investigation is not a finding that the
conduct in question complies with EU competition rules," it
said.

 (Reporting by Foo Yun Chee)
 ((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))