18/08/2005 (Agence Europe) - The Commission has given the go-ahead for the planned takeover of investment fund PEL by investment fund PHL. Both funds own companies active in various areas, from electronics (Austriamicrosystems), chemicals (Cognis), luxury yachts (Ferretti) and television (Premiere) for PEL, to financial services (AA) and telecoms (Debitel) for PHL. The deal was examined using the accelerated procedure.