09/09/2009 (Agence Europe) - On Tuesday 8 September, the European Commission approved the proposed acquisition of Monabanq, a French online bank currently controlled by 3 Suisses International, by Banque Fédérative du Crédit Mutuel S.A., also of France. The Commission examination of the proposed transaction showed that the horizontal overlaps between the activities of Crédit Mutuel and Monabanq were limited, in particular due to the limited market shares of Monabanq. The Commission therefore concluded that the transaction would not raise competition concerns. The Commission examined the operation in the context of Crédit Mutuel's earlier acquisition of Cofidis from 3 Suisses International, approved by the Commission on 24 February 2009. (O.J./transl.rh)