EC green light for takeover of Corus

The European Commission has given the green light to India’s Tata conglomerate to take over Anglo-Dutch steel group Corus.

The EC said the combination would not be a threat to competition on the European steel market. However Tata and Brazilian steel group CSN are currently embroiled in a bidding war for Corus. Both parties are due to present final bids on January 30.

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