On 11 June 2019, the EU Commission announced they blocked a merger between steel producers Tata and Thyssen Krupp. This is the 10th merger the EU has blocked in 10 years, but the first steel merger to be blocked. Margrethe Vestager, European Commissioner for Competition, noted that Italy’s ArcelorMittal's acquired Ilva steel plant in May of 2018, but this was not blocked because it would not be as big of a shock to the steel market as a merger between Thyssen Krupp and Tata Steel. According to Vestager, a “huge number one in Europe” would be created in steel production if the companies merged, which would not be beneficial for market competition.
TagsEU EU Commission Competition Divestiture Tata Steel Thyssen Krupp ArcelorMittal Ilva Steel