Brussels, 10/11/2010 (Agence Europe) - On 9 November, the European Commission cleared the proposed acquisition of the sales and distribution activities of branded colour TVs in the People's Republic of China of the Dutch company Koninklijke Philips Electronics N.V. by TPV Technology Limited, a manufacturer of monitor displays and colour TVs based in Bermuda.
As TPV bought the sales and distribution business of Philips' branded PC monitors and public signage less than two years ago, the two transactions are treated under the EU Merger Regulation as one and the same concentration.
The Commission investigation found no overlaps in the European Economic Area, so the Commission authorised the operation of which it had been notified on 10 October. It further took the view that the merged entity would only have a small market share and would continue to face numerous strong competitors. (F.G./transl.rt)