EU probes Statoil Hydro’s bid for Jet petrol stations in Scandinavia
Thursday, May 15th, 2008The European Union (EU) antitrust regulator launched an in-depth probe on Wednesday into Norwegian oil company Statoil Hydro’s bid for Jet petrol stations in Scandinavia.
“The Commission’s initial market investigation has indicated that the proposed merger raises serious doubts as to its compatibility with the Single Market as it appears that it could limit competition on the motor fuel retail markets in Sweden and Norway,” the European Commission said in a statement.
“Rising oil prices make it even more important that consumers continue to benefit from competition at retail level,” said EU Competition Commissioner Neelie Kroes.
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