THE ACQUISITION by the French steel company Usinor of a controlling 55 per cent stake in Tubisud of Italy has been cleared by the European Commission. The Commission said that while the deal would increase the presence of Usinor in the Italian markets for organically coated steel sheet and the distribution of steel, it would not significantly reduce competition. Tubisud, at present owned by the Abate Group, has less than five per cent of the EU market for organically coated strip and the same share of the Italian steel distribution market. ...

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