CONCLUSIONS OF THE 44TH SESSION OF THE COUNCIL OF COMPETITION

SARAJEVO, 18 April 2007 - The Council of Competition issued in its 44th session a Decision declaring the concentration compatible; the concentration will be created in the steel and steel products market between undertakings Mittal Steel Company N.V., Nederland and Arcelor S.A., Luxembourg.  

Namely, Mittal Steel Company submitted to the Council of Competition a Notification on intended concentration  by means of which it intends to become majority owner of the company Arcelor S.A through purchase of its stocks. The effects of the concentration concerned on the market of Bosnia and Herzegovina will be achieved through the economic associations Mittal Steel Zenica d.o.o and  Mittal Rudnici Prijedor d.o.o. Prijedor. When completed economic and legal analysis the Council of Competition ascertained that the implementation of the concentration concerned would not have negative effects on the relevant market but that it would strengthen market competition in production and distribution of steel and steel products in Bosnia and Herzegovina. 

As the Notification was not submitted within the legally specified time period, the Council of Competition imposed a fine in amount of 40.000 KM to Mittal Steel Company.

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