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Europe Daily Bulletin No. 9948

25 July 2009
GENERAL NEWS / (eu) eu/competition

24/07/2009 (Agence Europe) - Volkswagen AG's takeover of Porsche, announced on Thursday evening, has not yet been notified to the Commission, the latter's spokesman's department has said. Although both companies are German, the merger requires endorsement by the authorities in Brussels given the size of their markets outside Germany and the size of their respective turnovers. Furthermore, the Commission is still not pleased with the “Volkswagen law” whereby a shareholder with 20% of the...

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