The Competition and Markets Authority (CMA) has been investigating Iconex’s proposed purchase of Schades and R+S, which are both owned by Hansol Paper and Mirae Asset Daewoo.
Iconex, Schades, and R+S are three different manufacturers and suppliers of lightweight thermal paper rolls and labels in the UK. This type of paper roll is vital to many businesses and is used by shops, restaurants, and banks for their receipts.
The CMA issued the decision, Monday, June 10, from its initial Phase 1 merger investigation, which examined the merger’s effects in the UK. This found that Iconex and Schades are two of the UK’s largest receipt roll suppliers and compete very closely with each other. The merger could create insufficient competition in the supply of these products, leading to their customers potentially having less choice and paying higher prices, especially as there are very few large suppliers in the UK.
Full Content: Gov UK
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