BRUSSELS, Sept 23 (Reuters) - Hyundai Heavy Industries
Holdings Co Ltd, the world's largest shipbuilder, is
talking with EU antitrust regulators about concessions to allay
concerns about its $1.8 billion bid for rival Daewoo
, people familiar with the matter said.
The deal, in part a response to overcapacity in the sector,
would reinforce the South Korean company's top position with a
21% market share and comes as rivals in China and Singapore make
The European Commission, which opened a full-scale
investigation into the deal last December on concerns it could
inflate prices and reduce competition in cargo shipbuilding,
declined to comment.
Hyundai was not immediately available for comment while
Daewoo declined to comment.
It is not clear what concessions the companies will offer.
EU regulators typically favour asset sales or transfer of
technologies or contracts to rivals to address competition
The Commission temporarily halted its probe on July 13, the
third time it has done so. The previous two delays were due to
the coronavirus crisis and also while waiting for the companies
to provide data.
Much of the EU's internal and external freight trade goes by
sea, with European shipping companies major customers of Hyundai
(Reporting by Foo Yun Chee, additional reporting by Heekyong
Yang in Seoul; editing by Jason Neely)