Brussels/New York, 18/04/2001 (Agence Europe) - The Competition Commissioner, Mario Monti showed himself to be optimistic over the planned merger between the American companies General Electric (GE) and Honeywell. At the end of February, the Commission had opened an in-depth investigation into this merger in order to understand, in more detail, the repercussions on the market for aeronautical components, fearing a dominant position for the new entity in the European market for engines. It should issue its decision before next 12 July (see, among others, EUROPE of 3 March, p.10).
During an official visit to New York, the Commissioner told the Reuters news agency that his meeting with Jack Welch, President of GE, had been "constructive", and that he had the impression that the parties concerned did their utmost in order to answer the concerns of his services. A GE spokesperson was also pleased with the meetings with the European Commission, feeling that they are on the right path to find a positive solution to the operation.