Brussels, 13/10/2005 (Agence Europe) - The Commission has authorised the proposed acquisition of the Canadian maritime company, CP Ships, by the German company, TUI, which owns Hapag-Lloyd, subject to certain conditions. Clearance is conditional upon the withdrawal of Hapag-Lloyd from two liner shipping conferences that operate between Europe and North America as the accumulated market shares of the parties could cause competition problems. The shipping conferences benefit from antitrust immunity and the Commission therefore assures that the operation will not cause any anti-competitive effects in the form of market sharing or a rise in prices to the detriment of shippers and final consumers. In a White Paper, the Commission suggests abolition of this block category exemption (EUROPE 8807) and should present a proposal along these lines by the end of the year. According to Commissioner Neelie Kroes: “The clearance of this merger paves the way to the creation of a leading European player in the industry. The remedies ensure that the merger does not lead to anti-competitive coordination between shipping lines on the important trade lanes between Europe and North America”. The deal will give rise to the world's fourth largest operator and a leading competitor on some shipping trade lanes.