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New CPC postponement for cements

27/07/2007 08:59
The representatives of the two cement companies of Cyprus, Vasiliko and CCC, requested a 24-hour extension by the Commission for the Protection of Competition in order to collect data for similar mergers abroad that have been approved by the supervisory authorities.

Same sources said that the two companies are expected to clarify how will they avoid the problems that will arise from the import of cement by other competitors and how will they set the prices to the benefit of the consumers.

The Commission is also highly concerned about the safeguard of the competition for the ready-concrete production and the way of operation of the unit in Vasiliko.

The meeting between the CPC and the two companies has been scheduled for today and at 4.00 pm the Commission will hold a meeting in order to examine all data. CPC sources told StockWatch that the issue is complicated and it might not take the final decision today.