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EU's anti-trust authority blocks Thyssenkrupp-Tata Steel merger plan

Updated : June 12, 2019 07:37 AM IST

The commission, the EU's executive arm, criticised the merger, which "would have reduced competition and increased prices for different types of steel," a statement said.
The companies last month abandoned the merger on expectations that the EU would refuse the deal, with Thyssenkrupp announcing it would slash 6,000 jobs as a result, mainly in Germany.
EU's anti-trust authority blocks Thyssenkrupp-Tata Steel merger plan
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