PRESS DIGEST- British Business - May 29
May 29 The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
BRUSSELS Oct 10 EU antitrust regulators opened an in-depth investigation on Monday into German cement producers HeidelbergCement and Schwenk's joint acquisition of Mexican peer Cemex's Croatian unit, saying the deal might hurt competition and lead to price hikes.
The German companies' joint subsidiary DDC is the largest importer in the area while Cemex Croatia is the biggest producer. The European Commission said the deal might hurt rivals and consumers.
"The Commission thus has preliminary concerns that the transaction may strengthen the market power of Cemex Croatia in southern Croatia and result in price increases for grey cement," the EU competition watchdog said.
The companies may have to offer concessions to allay the concerns. The Commission will decide on the deal by Feb. 23. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)
* unit entered into arrangements regarding acquisition of a 30% interest in each of PPLs 474, 475, 476, 477 and PRL 39 from Exxonmobil affiliates Source text for Eikon: Further company coverage:
* Novo Resources to invest $2m to earn in to new 50/50 gold exploration, development, mining and collaboration jv in Karratha. Source text for Eikon: Further company coverage: