DALLAS, T.X. (From news reports) -- The U.K.'s competition regulator said it was considering whether to launch an investigation into a proposed joint venture between Kleenex maker Kimberly-Clark and pulp manufacturer Suzano.

Kimberly-Clark, which makes Scott toilet paper and Huggies diapers, said in June that it struck a $3.4 billion deal to sell most of its international tissue business to Brazil's Suzano, creating a joint venture in which it would hold a 49% interest. The companies said at the time Suzano would also have the option to purchase Kimberly-Clark's remaining ownership interest in the future.

The U.K.'s Competition and Markets Authority said that it was inviting comments from interested parties before deciding whether to investigate if the deal would harm competition in the U.K.

The CMA said the invitation to comment was the first part of its information-gathering process and that no formal investigation into the transaction had yet been launched.

Parties have until Feb. 20 to put forward their comments, it said.