The European Commission has opened an in-depth investigation into a joint venture proposed by Belgian chemicals group Solvay and Swiss based INEOS, over concerns it may harm competition.The investigation would focus on the markets of suspension polyvinyl chloride and sodium hypochlorite, as a major competitor would be removed by the combination of the two groups, the Commission said.
"The Commission needs to make sure that competition is preserved for both products and ultimately prevent harm to European consumers," EU Competition Commissioner Joaquin Almunia said.
The EU competition authority set a March 21 deadline for its decision on the deal.
