VW/PON DEAL
October 1st, 2003
BY KEITH NUTHALLTHE EUROPEAN Commission has given competition clearance to the takeover by Volkswagen's financial arm of a stake in the Dutch car leasing company Pon Financial Services. The deal will lead to the joint control of Pon with VW importer in the Netherlands Pon Holdings BV. The Commission concluded that although the deal would concentrate ownership in the market, there were insufficient competition concerns for it to block the deal or impose conditions. Under the deal, said the Commission, car leasing and fleet management specialist VW Financial ...
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