24/11/2009 (Agence Europe) - The European Commission has cleared the planned joint venture between the Italian financial institutions Unicredit S.p.A. and Banca IMI S.p.A, a company of the Intesa San Paolo Group. The planned transaction would transform the existing joint venture TLX S.p.A. into a new full function joint venture Euro TLX Societa Intermediazione Mobiliare S.p.A (Euro TLX SIM). It would start operating a single electronic platform for trading in financial instruments named Euro TLX offering services to third parties on a commercial basis. After examining the operation, the Commission concluded that the deal would not lead to any overlap and would not cause any vertical competition problems. Euro TLX SIM will face competition from other players, increasing competition and expanding the choice of suppliers, adds the Commission in a press release published on 23 November. (A.B./transl.fl)