Europe's antitrust regulator has reportedly objected to
Cemex and Holcim unveiled the deal in August 2013, part of which included the Swiss-based peer taking over Cemex's German businesses. The
"The European Commission has sent a statement of objections to the companies," the person familiar with the matter is quoted as saying by Reuters, referring to a document which backs up the EU watchdog's views that the deal would be a significant impediment to competition.
Reacting to the claimed antitrust regulator objection, Reuters quote Cemex saying: "We cannot comment and the process is following its normal course. Proper disclosure will be made when we have to make it." Commission spokesman for competition policy, Antoine Colombani, and Holcim declined to comment when approached by Reuters.
Companies typically allay regulatory concerns by offering concessions such as asset sales or pledges giving rivals access to key infrastructure, networks or key technology. The Reuters source said Cemex had offered some concessions during the Commission's preliminary review but these were not considered to be sufficient. The Commission has set a September 5 deadline for its decision.