22/09/2005 (Agence Europe) - The European Commission has cleared the proposed acquisition of the Czech company VVT by the Czech company Tøinecké železárny. VVT is wholly owned by Astonia, a Czech based holding company within Shiran Group, a major supplier of iron products to the steel-making industry within the countries of Central and Eastern Europe. Tøinecké železárny is an integrated steel making company, which is part of the Moravia Steel Group and already supplies nearly 60% of VVT's requirements of semi-finished steel. The Commission said that even if VVT were to source all of its requirements from its new owner, the structure of the market would not change significantly. It also concluded that the operation does not give rise to any horizontal overlaps.