European Union antitrust regulators have cleared the €758 million (£601 million) bid by appliance maker Whirlpool for 60% stake of Italian manufacturer Indesit.
The acquisition will further expand Whirlpool’s presence beyond its core U.S. market.
The European Commission said the deal would not hurt competition.
“The Commission concluded that the transaction would not raise competition concerns, given that many alternative major domestic appliances suppliers exist in the European Economic Area and at national level,” the EU competition authority said.
We would counter that there may well be a number of brands for sure but actual European manufacturers, not so many.