Brussels, 30/04/2014 (Agence Europe) - On Wednesday 30 April, the European Commission gave the go-ahead to the acquisition of joint control over France's SOFIAP (Société Financière pour l'Accession à la Propriété) by French companies Banque Postale and railway company SNCF (Société Nationale des Chemins de Fer). SOFIAP was previously owned by Crédit Immobilier de France Développement S.A. It specialises in mortgages and other loans and the sale of related insurance products, mainly to people working for the SNCF. The Commission says the deal does not raise any competition concerns because, despite the overlap between SOFIAP and Banque Postale on the lending and insurance market, their total market share is less than 5% on the relevant markets and market segments. Moreover, the presence of a number of large players will ensure continuing strong competition. (EL)