Thyssenkrupp, Tata lose fight against EU veto of joint venture

Quick Summary

Thyssenkrupp and Tata Steel have lost their fight against a European Union antitrust veto of their proposed landmark joint venture, after Europe's second-highest court rejected their arguments.

The parties can appeal on matters of law to the Court of Justice of the European Union, Europe's top court.

But the European Commission said the deal could result in significant price hikes and demanded remedies Thyssenkrupp at the time said would jeopardise the logic of the planned transaction.

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Article Details

Author / Journalist: Reuters

Category: Business

Topics: Tata steel Business news Thyssenkrupp Tata EU veto Tata steel europe European union European commission Thyssenkrupp

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 01:57:24

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Reading Time: 2 minutes read

Article Length: 249 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 4107

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