Brussels, 30/06/2008 (Agence Europe) - On Friday 27 June 2008, the European Commission authorised the proposed joint venture between the French-Italian group STMicroelectronics and the Dutch company NXP. STMicroelectronics is active in the semiconductor industry and offers a broad range of semiconductor products, from discrete diodes and transistors to complete platform solutions. NXP creates semiconductors, system solutions and software used in a wide range of electronic devices including mobile phones, personal media players and TV set-top boxes. The proposed joint venture would operate worldwide in the research and development, design, manufacture, marketing and sale of wireless handsets. Both STM and NXP are dedicating part of their activities to the joint venture. The Commission's market investigation revealed that the creation of the joint venture would not give rise to any competition concerns in the market for wireless handset semiconductors as the new entity would face several significant competitors and customers would continue to have access to a sufficient number of alternative suppliers. The Commission also took into consideration the existence of sophisticated customers, such as original equipment manufacturers (OEMs), and the fact that the STM and NXP businesses to be conferred to the joint venture are to a large extent complementary. (C.D./transl.rt)