Thyssenkrupp, Tata Lose Challenge To EU Veto Over Merger

By Silvia Martelli (June 22, 2022, 2:46 PM BST) -- Thyssenkrupp and Tata Steel have lost their challenge to a European Union antitrust veto of their proposed joint venture, as the bloc's court on Wednesday backed the assessment that the move would harm competition for steel products in the automotive industry.

The European Commission was not wrong to assess that the proposed deal would hinder competition for products made by Thyssenkrupp and Tata Steel, the court has said. (AP Photo/Martin Meissner) The EU's General Court found that the European Commission had made no mistakes in its assessment that the proposed deal would hinder competition for the flat carbon steel products made...

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