EU antitrust regulators see no issues with Midea, Kuka deal

September 12, 2016 8:08 AM EDT

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

BRUSSELS (Reuters) - European Union antitrust regulators do not expect Chinese household appliances company Midea Group's <000333.SZ> bid for German industrial robot maker Kuka to pose any competition issues and will do a routine check before approving the deal.

The European Commission will examine the deal under its simplified procedure, according to a filing on its website on Monday. Such reviews mean the EU enforcer do not see the deals creating significant competition problems.

The Commission will announce its decision by Oct. 14. Midea sought EU approval last Friday for the deal, which initially raised concerns in Berlin about losing control of important technology. The German economy ministry gave the green light on Aug. 17.

(Reporting by Foo Yun Chee, editing by Louise Heavens)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Add Your Comment