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Image header Agence Europe
Europe Daily Bulletin No. 7688
Contents Publication in full By article 20 / 48
GENERAL NEWS / (eu) eu/competition

Acquisition of Schroders by Citigroup authorised

Brussels, 30/03/2000 (Agence Europe) - As briefly indicated in yesterday's EUROPE, the European Commission authorised the American banking services company Citigroup to acquire the British company Schroders, through a subsidiary Salomon Smith Barney Holding. The Commission believes that the operation does not pose any competition problems, as the activities remain limited in the very fragmented market for company financial advice. The Commission services noted that their market share remain below the 15% ceiling or even 10% for other activities: merger and acquisitions advisory services, securities underwriting, asset management, derivatives trading and exchange trading.

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