Brussels, 09/07/2001 (Agence Europe) - The European Commission authorised the Italian Angelini and German Phoenix groups to create a joint venture via their subsidiaries in the wholesale of pharmaceuticals and parapharmaceuticals, by concentrating in Southern Italy (mainly in Latium, Abruzzi, Molise and Marche). The new company will have less than a 18% market share at the national level and the Commission investigation showed that the operation will not affect competition on the Italian market in question. Wholesalers are in fact submitted to competition in the short line channel and wholesalers established in other regions will also be able to compete with the new company.