SPAIN DEAL APPROVAL
November 1st, 2003
BY KEITH NUTHALLTHE EUROPEAN Commission has granted competition clearance to the acquisition by Spain's Vidacaixa of Swiss Life España (SLE) from the Swiss Life Insurance and Pension Company Holding. Brussels has investigated concerns that the merged company could be too dominant in the Spanish life insurance sector, but concluded that highest possible combined market share would "not exceed 20 per cent" and that "there remains a sufficient number of strong competitors". The SLE buyout will strengthen Vidacaixa's domestic business, while it continues to also ...
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