UPM-Kymmene/Sappi: EU Prepares Charge Sheet Against Paper Venture As Companies Stress Sector Decline, Sources Say

The European Commission is preparing charges against Finland’s UPM-Kymmene (HEL: UPM) and South Africa’s Sappi (JSE: SAP) over their proposed €1.42 billion paper joint venture, arguing the deal could raise prices and reduce options for customers reliant on specialized paper products, multiple sources with direct knowledge of the EU’s thinking said