|
2 October 2009 2:37 by James "Dela" Delahunty
European Union antitrust regulators have given conditional approval to Panasonic's planned acquisition of Sanyo Electric Co Ltd. The body approves of the deal as long as the company sheds certain units to uphold competition. The European Commission released a statement saying that Panasonic would need to sell battery production facilities in some markets where competition concerns were identified.
"In view of the remedies offered, I am satisfied that competition will remain vigorous after the merger and that purchasers of batteries will continue to benefit from choice and competitive prices," EU Competition Commissioner Neelie Kroes said.
"Without some unit sales, the merged entity would have a significant market share in batteries used in alarms and utility meters, portable rechargeable nickel-metal hydride batteries and rechargeable coin shape batteries based on lithium," the Commission statement reads.
"The companies will sell a battery production factory and one of the parties' portable nickel-metal hydride businesses to eliminate any increase in market share in this product market." Panasonic announced its plan to buy Sanyo in December 2008 once it jumps hurdles in several markets in the world including the EU, United States and China.
The European Commission looked at consumer electronics markets such as camcorders and plat panel televisions and didn't find any significant market share gains would come from the merger.
Permalink to this article
| |
Related articles:
Sony, Toshiba, Hitachi facing antitrust probe in U.S. (27 October 2009)
Panasonic intends to acquire Sanyo (8 November 2008)
|
|
|
|
|
|
Latest newsLatest news from AfterDawn.com.  Spotify now available on Symbian phones
23 Nov, 2009 Sony confirms 'premium level' for PSN
23 Nov, 2009 | 9 comments Nintendo announces DSi holiday bundles
23 Nov, 2009 iPhone worm can steal banking data
23 Nov, 2009 | 4 comments Roku adds 10 new content channels
23 Nov, 2009 | 5 comments Google Navigation hacked to work outside of US, and on G1
23 Nov, 2009 | 2 comments DSi LL launches in Japan
23 Nov, 2009 | 1 comment China Unicom has bold expectations for iPhone
23 Nov, 2009 | 2 comments Windows 8 coming in 2012?
22 Nov, 2009 | 26 comments Hulu will be dead in two years, says Verizon CEO
22 Nov, 2009 | 7 comments Netflix to stream IFC films
22 Nov, 2009 | 3 comments Wal-Mart selling $78 Blu-ray player on Black Friday, other great deals
22 Nov, 2009 | 4 comments
More news...  Search for headlinesSearch through our news archive. Latest threadsRecently updated
discussion threads.
More...  Last week's most popular software downloads Most popular devicesLast week's most popular products in our product comparison service. More products... Top linksMost popular links - Blasteroids.com
Download game trailers, demos and more - TorrentReactor.Net
The most active torrents on the web - Digital-Digest
Latest DivX, XviD, DVD, Blu-Ray, HD DVD News - OpenSubtitles.org
download DivX subtitles from the biggest open database - CDRInfo.com
The Hardware Authority - DVDHelp.us
DVD help, tutorials, FAQ, and very popular free help forum! - dvd ripper
rip DVD to VCD, DivX, MPEG, SVCD, AVI easily and quickly. - Torrentreactor.TO
The most active torrents on the web
|
Post your comment
DVD Shrink v3.2.0.15
Media Player Classic v6.4.9.1 (20081210)
Asus M2N-MX SE
Asus M2N-SLI Deluxe
Nintendo Wii
Sony PlayStation Portable
Apple iPhone (16GB)
GCFScape v1.7.4
OneSwarm for Mac OS X v0.6.9
OneSwarm for Linux v0.6.9