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Image header Agence Europe
Europe Daily Bulletin No. 8059
Contents Publication in full By article 29 / 52
GENERAL NEWS / (eu) eu/competition

Serious doubt hangs over Schneider/Legrand merger

Brussels, 28/09/2001 (Agence Europe) - The technical services of the European Commission's DG for Competition has presented the Member States' Advisory Committee with a negative opinion on the merger between Schneider Electric and Legrand. It is now up to the Commission to make the final decision on 10 October, but this opinion suggests it may decide to reject the merger. Amelia Torres, Commissioner Monti's spokesperson, simply said that the Commission had no comments to make at this stage, but the two companies seem to have made insufficient commitments too late. The partners are proposing to dispose of activities with a turnover of EUR 400 million. The European Commission has had reservations about the merger for months, fearing the emergence of a company that would dominate the low-tension electrical equipment market. It refused to give the go-ahead to the first phase in order to examine in greater detail the impact of the merger and to give the companies time to make commitments (see EUROPE of 4 April, p.14).

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