Saturday 19 January 2019

Banana merger offer


FRUIT firms Fyffes and Chiquita have offered concessions to European Union competition regulators to allay concerns that their proposed merger may reduce competition.

The merged entity will have 14pc of the €5.4bn global banana market, making it the world's biggest banana supplier with a significant negotiating power against retailers.

The European Commission said yesterday that the companies submitted their proposals on Friday.

The competition watchdog has set a deadline of October 3 for its decision.

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