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PKN Orlen-Lotos merger created monopoly on slack-wax market, Polwax tells EU court

By Andrew Boyce ( January 11, 2023, 16:56 GMT | Insight) -- PKN Orlen’s takeover of rival Polish oil refiner Lotos was wrongly approved by EU merger officials, who failed to properly analyze the deal's impact on the market for slack wax, Polwax told EU judges today. The acquisition has left Polwax struggling to secure slack from PKN Orlen, which now has a “monopolistic position,” the company argued. The European Commission defended its year-long in-depth deal probe, which had resulted in a slew of remedies.PKN Orlen’s takeover of rival Polish oil refiner Lotos was wrongly approved by EU merger officials, who failed to properly analyze the deal's impact on the market for slack wax, Polwax told EU judges today....

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