BRUSSELS, Dec 10 (Reuters) - BlackRock and MSC's bid for CK Hutchison's terminal at Barcelona port could lead to higher prices or reduce the quality of container terminal services, EU antitrust regulators warned on Wednesday, as they opened a full-scale investigation.
The EU's move could require the pair to offer concessions to address regulatory concerns.
Under the deal, Terminal Investment Limited Holding (TiL), a unit of Switzerland-based MSC Mediterranean Shipping Company, and BlackRock will acquire joint control of Hutchison's terminal at Barcelona port.
The port is the main deep-sea gateway for cargo to and from Barcelona and its hinterland, and also connects with traffic to and from southern Europe.
The European Commission, which acts as the EU competition enforcer, warned that the merged entity may block rival container liner shipping companies, with MSC getting preferential treatment.
The EU executive will decide by April 30 whether to clear the deal. Reuters was the first to report that the EU competition enforcer would launch an investigation.
The scrutiny of the Spanish deal could indicate how EU regulators could examine the European part of a wider bid by BlackRock and MSC for CK Hutchison's global port assets which has yet to be finalised.
(Reporting by Foo Yun Chee; Editing by Kirsten Donovan)
BlackRock, Inc., formerly BlackRock Funding, Inc., is an investment management company. It provides a range of investment management and technology services to institutional and retail clients. Its diverse platform of alpha-seeking active, index and cash management investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients. Its product offerings include single- and multi-asset portfolios investing in equities, fixed income, alternatives, and money market instruments. Its products are offered directly and through intermediaries in a range of vehicles, including open-end and closed-end mutual funds, iShares and exchange-traded funds, separate accounts, collective investment funds and other pooled investment vehicles. It also offers technology services, including the investment and risk management technology platform, Aladdin, Aladdin Wealth, eFront, and Cachematrix, as well as advisory services and solutions.
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