Author: admin

About 1,800 miles (2,900 kilometers) below our feet, two enormous patches of strange rock sit above Earth’s core. New computer models now tie these deep structures to slow chemical leaks between the core and mantle that may have helped Earth…

Sign up here.

The Commission declined to comment. BlackRock, MSC and Hutchison did not immediately respond to several emailed requests for comment.

CK Hutchison has interests in ports across Europe, including in Belgium, Poland and the Netherlands. It was not immediately clear if those other European parts of the global acquisition could also eventually come under scrutiny. The non-EU portions of the deal fall outside the EU’s review jurisdiction.

BARCELONA TERMINAL ACQUISITION UNDER EU SCRUTINY

The overall package, which includes two ports along the strategically important Panama Canal, has become highly politicised between Washington and Beijing.

The Spanish portion of the deal would see Terminal Investment Limited Holding (TiL), a unit of Switzerland-based MSC Mediterranean Shipping Company, and BlackRock acquire joint control of Hutchison’s terminal at Barcelona port.

The terminal can serve multiple mega-ships simultaneously and has an eight-track rail facility – making it the EU’s largest rail terminal on the Mediterranean Sea – that connects the port with traffic to and from Southern Europe.

TiL already operates a terminal at the Spanish port of Valencia.

The European Commission, which acts as the EU competition enforcer, is set to open a full-scale investigation after its preliminary review of the deal ends on December 10, the person said.

Full-scale EU investigations typically last around four months or longer and can lead to firms offering concessions including divestments to address competition concerns and secure regulatory approval.

Our Standards: The Thomson Reuters Trust Principles., opens new tab