No merger plans for UPM and Stora Enso

Wahlroos’s rebuttal to the growing merger speculation in the Finnish press follows a statement issued last week in which the company said “it was open to consolidation”, but stressed that a merger between the paper manufacturer and magazine paper giant “will not happen”.

It is believed that such a merger would struggle to get European competition commission approval, as the market share of the merged entity would be unacceptable.

While UPM chief executive Jussi Pesonen said he is interested in consolidation, analysts have said that
if it were to happen it was most likely to be with a smaller rival.

Pesonen added that merging the company could help increase profitability, which is needed in a sector that is struggling with overcapacity and rising costs.

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