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EU concerned that Tata-ThyssenKrupp merger can lead to unfair prices

EU concerned that Tata-ThyssenKrupp merger can lead to unfair prices
(Image Credit: Reuters)

The European Union on Tuesday launched an in-depth probe into the proposed creation of a joint venture between Tata Steel of India and Germany's ThyssenKrupp, saying it could reduce competition.

"At this stage, the commission is concerned that, following the transaction, customers would face a reduced choice in suppliers, as well as higher prices," the European Commission, the bloc's executive arm, said in a statement.

(With inputs from agencies.)



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