Brussels, 05/04/2007 (Agence Europe) - On Wednesday 4 April, the European Commission cleared the proposed acquisition by Thales of France of Alcatel's shareholdings in the space joint ventures Alcatel Alenia Space (AAS) of France and Telespazio of Italy, currently jointly controlled by Alcatel and Finmeccanica. The latter will keep its share in the joint ventures.
Thales holds a leading position for Travelling Wave Tubes (TWTs), a critical component for telecommunications satellites. AAS is a leading satellite manufacturer. In November 2006, the Commission opened an in-depth investigation to determine whether the new entity would be likely to restrict access to TWTs for its downstream satellite and satellite subsystem rivals (EUROPE 9318). The Commission's investigation in fact found that the new entity's ability and incentive to do so would be very limited. (cd)