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Image header Agence Europe
Europe Daily Bulletin No. 8352
Contents Publication in full By article 18 / 30
GENERAL NEWS / (eu) eu/competition

Verdict on Schneider/Legrand expected on 5 December

Brussels, 02/12/2002 (Agence Europe) - Although the Court of Nanterre had decided that Legrand directors were right to refuse the merger with Schneider Electric, on the basis that the agreement planned during the first merger attempt in 2001 was not respected (a decision confirmed by the court of Versailles), the European Commission has affirmed that it will be reaching a decision on the case on 5 December. Amelia Torres, the spokesperson for Mr Monti, explained that they were studying the Versailles Court decision very closely in order to deal with aspects of Schneider concession, especially those involving Legrand. Ms Torres indicated that the Commission would have to reach a decision even if notification were withdrawn, which is not the case. The question remaining is that of knowing whether the Commission can take into account the commitments proposed by Legrand in this exceptional situation in connection with Schneider (EUROPE 21 November p 13).

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