Brussels, 28/08/2008 (Agence Europe) - On Wednesday 27 August, the European Commission cleared the proposed acquisition of a newly created joint venture between Edison S.p.A. (Italy) and Hellenic Petroleum S.A. (Greece). The new company will be active in the market for the generation and wholesale supply of electricity in Greece. Edison and Hellenic also operate in the energy sector, focusing on electricity and oil products respectively. Upon examination of the proposed transaction, the Commission concluded there was only a slight horizontal overlap between the activities of the companies concerned. Given the possibility of using gas (an oil product) for the production of electricity, the Commission also examined the new entity's enlarged vertical relationship, but concluded that competition on the markets in question is sufficient to prevent abuse of dominant position. (C.D./transl.jl)