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Business deals

Tata Steel and Thyssenkrupp walk away from blockbuster merger

Indian and German steelmakers fear EU rejection on antitrust concerns

Smoke billows out of a chimney at a Tata Steel plant in Ijmuiden, Netherlands.   © Reuters

FRANKFURT, Germany -- German steelmaker Thyssenkrupp said Friday it will cancel a planned merger with India's Tata Steel due to the expectation that the European Union will not approve a deal that would create a virtual duopoly in the common market.

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