BRUSSELS (Reuters) - The European Commission said on Monday it had rejected a request by Berlin to refer to the German competition authority a proposed takeover by Swiss cement maker Holcim HOLN.VX of Mexican rival Cemex’s (CMXCPO.MX) operations in Germany.
“The Commission concluded that the geographic scope of the affected cement markets is wider than national and that therefore the Commission cannot refer the assessment of the transaction to Germany,” the Commission said in a statement.
The Commission, which acts as the competition authority in the 28-nation bloc, announced last October it was opening an in-depth investigation into the proposed takeover. It has until March 31 to take a final decision.
Reporting by Adrian Croft; editing by Robert-Jan Bartunek