EU set to block UPM-Sappi paper JV after no concessions offered

EU antitrust regulators are expected to veto the €1.42B UPM-Kymmene and Sappi paper joint venture after the companies declined to offer concessions and failed to sway regulators in a closed-door hearing. The veto would mark a definitive end to the deal, reflecting heightened EU scrutiny of market concentration in the paper sector. The outcome is a setback for both companies' strategic plans and signals continued regulatory resistance to consolidation in mature industries.