UPDATE 1-Austrian authority seeks deeper probe of Wienerberger's Terreal takeover bid

Reuters
·1 min read

(Adds details, background) (Adds details, background)

BERLIN, Feb 1 (Reuters) - Austria's Federal Competition Authority wants to conduct a more in-depth investigation into brickmaker Wienerberger's takeover bid for French firm Terreal, the regulator said on Wednesday.

The FCA said in a statement it had filed an application with the cartel court due to competition concerns after discussions with competitors and customers indicated a different market definition than the one submitted by the involved parties.

"Negative effects on competition as well as on customers cannot be ruled out at present. Therefore, the merger is not cleared," said FCA director general Natalie Harsdorf-Borsch.

The competitive situation in Austria cannot be compared to that in Germany, as the market position of the companies is different, added the FCA.

Germany's Federal Cartel Office

authorised

the takeover of parts of Terreal by Wienerberger last month. (Writing by Miranda Murray, editing by Thomas Escritt)

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