European Commission approve deal between UPM and Myllykoski

The European Commission has approved the deal in which the Finnish forestry company UPM buys competitor Myllykoski writes YLE. It was in December, UPM announced the deal, but the Commission was concerned that it would push up the price of newsprint.
The deal is worth about EUR 900 million and the goal is to strengthen UPM's profitability and cost efficiency. Myllykoski was deeply in debt before UPM took over.