Konecranes Abp to Discuss Strategy And Next Steps Following the Abandonment of the Planned Merger with Cargotec Corp Call Transcript
Good morning, and welcome, everyone. My name is Kiira Froberg, and I'm the Head of Investor Relations at Konecranes. Here with me today, I have our Chairman of the Board, Mr. Christoph Vitzthum; and our Interim CEO and CFO, Teo Ottola.
Before we start, a kind reminder, the presentation contains forward-looking statements. Christoph will start and then Teo the will follow. And in the end, we will have a Q&A. (Operator Instructions) Thank you. Christoph, stage is yours.
Thank you, Kiira. Very good morning, and welcome to everyone on my behalf as well. As you have seen earlier this morning, we announced that the planned merger between Konecranes and Cargotec has been canceled. The U.K. Competition and Markets Authority, the CMA, issued its final report earlier today and blocked the planned merger. The remedies which were conditionally approved by the European Commission were not effective in addressing the CMA's concerns. The completion of the merger would require approvals from all relevant
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