EU Raises Concerns Over UPM Sappi Venture
The European Commission has expressed concern that a proposed joint venture between UPM and Sappi could restrict competition and raise prices for print paper. Both companies remain confident they can address the regulatory issues.
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The European Commission raised antitrust concerns over a €1.42 billion ($1.66 billion) paper joint venture between UPM-KYMMENE OYJ and SAPPI LIMITED on Wednesday afternoon. The proposed tie-up between firms based in Finland and South Africa threatens print paper competition. Regulators warn the deal could increase prices and reduce print paper quality.
