According to a European Commission filing, PMI has offered concessions to address EU antitrust concerns over its USD 16 billion bid for Swedish Match, Reuters reported.

The EU competition enforcer did not provide details of the concessions in line with its policy. It will seek feedback from competitors and customers before deciding whether to accept them or demand more.
The Commission extended its deadline for a decision from 11 Oct. 25 Oct. According to the report, companies typically offer remedies during the preliminary review if they are confident that the EU antitrust watchdog will accept them.
The Commission had been expected to approve the deal unconditionally, but no final decision had been made, people familiar with the matter said.
The deal, which has been already cleared in the United States and Brazil, is complex and EU regulators have to take into account the scope and characteristics of the European market, another person said.

Meanwhile, PMI is not considering withdrawing its offer for Swedish Match. CEO Jacek Olczak told Reuters he believes the offer is “even more attractive”, now given the global macro-economic environment has changed since the original bid. Asked if he has considered withdrawing Philip Morris’ offer, Olczak said: “No – what I’m saying is that the offer which is out there – the 106 SEK (per share) with 90 per cent acceptance etc – is a good offer.”