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EU Commission opens study into Mondi purchase of Walki plants

Reuters - UK Focus

BRUSSELS, Sept 2 (Reuters) - The European Commission said on Wednesday it had opened an in-depth investigation to assess whether Mondi (LSE: MNDI.L - news) 's planned purchase of two packaging plants of Walki Group would harm competition.

The Commission, the EU's executive arm, said in a statement it had concerns that the acquisition could lead to less chose and higher prices for customers of certain packaging materials used for example to transport and protect fresh food or paper

The Commission said it had 90 days, until January 18, to investigate whether its initial concerns were confirmed.

"The proposed merger could remove a key competitor for several types of packaging material. These are used in everyday items such as food packaging," Competition Commissioner Margrethe Vestager said in the statement. (Reporting By Philip Blenkinsop)