EU Eyes StatoilHydro-ConocoPhillips Deal

Law360, New York (May 14, 2008, 12:00 AM EDT) -- The European Commission has launched an in-depth probe of Norwegian oil company StatoilHydro's proposed deal to acquire ConocoPhillips gas stations in Norway, Sweden and Denmark.

An initial review of the planned acquisition had raised serious questions over whether the agreement had the potential to limit competition in the motor fuel retail markets in Sweden and Norway, the European antitrust regulator said Wednesday.

Competition Commissioner Neelie Kroes said the agency's first look at the purchase suggested that competition between ConocoPhillips' Jet-branded gas stations and StatoilHydro gas stations...
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