Brussels, 02/09/2002 (Agence Europe) - The European Commission has given the go-ahead to two joint ventures in the field of sale and lease of immovable property for commercial use to be set up by US investment bank Morgan Stanley Dean Witter & Co. and Italian information technologies and telecommunications group Olivetti/Telecom Italia. Both Morgan Stanley and Olivetti/Telecom Italia have activities, through controlled companies, in the sale and lease of immovable property. The new ventures will be called Tiglio I and Tiglio II and will be active in the field of sale and lease of immovable property for commercial use so far exclusively controlled by the parent companies. Milan and Rome will be the only two geographic areas affected by the transaction. However, given the presence of qualified and strong nation-wide competitors such as Beni Stabili, Aedes Immobiliare, Bonaparte, IPI and Withehall, the joint ventures will not raise serious competition concerns.