SPAIN-ITALY DEAL
October 1st, 2004
BY KEITH NUTHALL
THE EUROPEAN Commission has approved the takeover of dominant Italian tobacco distribution company Etìnera by Altadis-owned Logistica, of Spain. Brussels concluded the deal could boost competition because Etìnera is owned by British American Tobacco, which commands a significant share of Italy's cigarette manufacturing. Altadis has a much smaller presence, focusing its products on France and Spain. "Any incentive Etìnera may have to discriminate against its parent's competitors in manufacturing will be diminished," said the Commission.
THE EUROPEAN Commission has approved the takeover of dominant Italian tobacco distribution company Etìnera by Altadis-owned Logistica, of Spain. Brussels concluded the deal could boost competition because Etìnera is owned by British American Tobacco, which commands a significant share of Italy's cigarette manufacturing. Altadis has a much smaller presence, focusing its products on France and Spain. "Any incentive Etìnera may have to discriminate against its parent's competitors in manufacturing will be diminished," said the Commission.
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