By Sachiko Sakamaki ( August 4, 2021, 10:36 GMT | Insight) -- Nippon Steel Corporation’s increased stake in Tokyo Rope Mfg. is set to be unwound, following the Japanese competition watchdog’s intervention. After the Japan Fair Trade Commission told the parties that Nippon's stake increase to 19.9 percent was a business combination requiring a regulatory review, Nippon Steel, Japan's largest steel company, said it would sell its Tokyo Rope shares to reduce its stake to the pre-merger level.Nippon Steel Corporation’s increased stake in Tokyo Rope Mfg. is set to be unwound, following the Japanese competition watchdog’s intervention. After the Japan Fair Trade Commission told the parties that Nippon's stake increase to 19.9 percent was seen as a business combination requiring a regulatory review, Nippon Steel, Japan's largest steel company, said it would sell its Tokyo Rope shares to reduce its stake to a pre-merger level....
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