The share price of Daewoo Shipbuilding & Marine Engineering (DSME) fell in the domestic stock market on the 12th as foreign media reported that the European Union (EU) was planning to disallow the merger between Hyundai Heavy Industries Group and Daewoo Shipbuilding & Marine Engineering (DSME).
As of 9:16 am on the same day, Daewoo Shipbuilding & Marine Engineering (DSME) was trading at 24,550 won in the stock market, down 2.39% from the previous day.
At one point in the early trading session, it was pushed back to 24,200 won, down 3.78%.
According to foreign media, sources familiar with the matter said on the 11th (local time) that the EU anti-monopoly authority is planning to disallow the merger between Hyundai Heavy Industries Group and Daewoo Shipbuilding & Marine Engineering.
The EU’s commission is expected to announce its intention to reject the acquisition “in the next few days”, the source said.
This confirms the Financial Times (FT) report that the EU authorities will decide to disapprove the acquisition this week and announce it.
In December 2019, the European Commission began reviewing the merger between Korea Shipbuilding & Marine Engineering (HHI), the shipbuilding holding company of Hyundai Heavy Industries Group, and Daewoo Shipbuilding & Marine Engineering (DSME). recently restarted.
The judging deadline has been postponed to January 20.
/yunhap news
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