EU extends Conti/Phoenix antitrust investigation

By Liz White, ERJ staff
Hannover, Germany-Continental AG has acknowledged that the European Commission has decided to take its investigation of the planned takeover of Phoenix AG into Phase II proceedings. The company expects a decision to be forthcoming before October.
“In view of the intensive international competition in the business segments in which ContiTech and Phoenix are active, we still assume that no fundamental problems with antitrust laws will arise,” said Manfred Wennemer, Continental chairman, 29 June.
The EC highlighted its wish during Phase II…

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