Hyundai daewoo

EU Halts Probe Into Hyundai, Daewoo Shipbuilding Tie-up, Again

EU antitrust regulators have again halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries’ $1.8 billion merger with Daewoo, a European Commission filing showed, reported Reuters. 

This is the third time the EU competition enforcer has halted the probe, having done so previously while waiting for details and due to delays related to the coronavirus crisis. 

The Commission warned in December that the deal to create a company with a 21% market share could push up prices, saying that European shipping companies, among the two shipbuilders’ biggest customers, may be affected.

Full Content: Reuters

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