Austrian authority seeks deeper probe of Wienerberger's Terreal takeover bid (updated)

Wienerberger AG

01/02/2023 10:11

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       BERLIN, Feb 1 (Reuters) - Austria's Federal Competition
Authority wants to conduct a more in-depth investigation into
brickmaker Wienerberger's  WBSV.VI  takeover bid for French firm
Terreal, the regulator said on Wednesday.
    The FCA said in a statement it had filed an application with
the cartel court due to competition concerns after discussions
with competitors and customers indicated a different market
definition than the one submitted by the involved parties.
        "Negative effects on competition as well as on customers
cannot be ruled out at present. Therefore, the merger is not
cleared," said FCA director general Natalie Harsdorf-Borsch.
  
        The competitive situation in Austria cannot be compared
to that in Germany, as the market position of the companies is
different, added the FCA.
  
        Germany's Federal Cartel Office 
    authorised
     the takeover of parts of Terreal by Wienerberger last
month. 
  
 (Writing by Miranda Murray, editing by Thomas Escritt)
 ((Miranda.Murray@thomsonreuters.com;))