12/05/2011 (Agence Europe) - Speedy/Itochu mergers. On Thursday 12 May, the European Commission approved the acquisition of British Speedy 1 Ltd (a holding company of Kwik-Fit Group Ltd) by the Japanese holding company, Itochu Corporation. Both companies are active in different European countries in the field of automotive repair, spare parts assembly and the wholesale provision of replacement tyres. The Commission maintains that, after the deal takes place, the presence of the two companies on these markets would remain limited and that the combined activities of Itochu in the wholesale supply of replacement tyres and those of Speedy in repairs and spare parts would not lead to the shutting out of competitors. It therefore concluded that the merger would not hinder competition in the European Economic Area. (F.G./transl.jl)