BRUSSELS, April 23 The European Commission said
on Wednesday it is investigating plans by Mexican cement company
Cemex to buy the Spanish operations of its Swiss
rival Holcim because of competition issues.
"The Commission has concerns that the transaction may reduce
competition in certain areas of Spain where the two companies'
activities overlap," the EU executive said in a statement.
Cemex, one of the world's largest cement companies, is
seeking to buying Holcim's Spanish plants, part of a deal to
exchange assets and combine others to deal with tough conditions
in the European construction sector.
The Commission has until Sept.5 to decide.
(Reporting by Robin Emmott; editing by John O'Donnell)