EU competition officials are preparing to block a $2bn merger between two of the world’s biggest shipbuilders in South Korea, the first time since 2019 that Brussels has decided to veto a corporate tie-up.
Officials told the Financial Times that a proposed merger between Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries would be stopped as anti-competitive. The decision is likely to be announced this week, said three people familiar with the matter.
The European Commission declined to comment.
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