Electronics Production |
EU approves TPV to buy Philips TV business in China
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the sale and distribution activities of branded colour TVs in China of the Dutch company Koninklijke Philips Electronics by TPV.
After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
TPV is active in the design and manufacture of a range of TV and monitor display technology for distribution in Asia, Europe and the US. Pursuant to an agreement of 29 September 2010 TPV proposes to acquire the branding and distribution business of Philip's colour TVs in the People's Republic of China.
The Commission's investigation found that there is no overlap between the two Philips businesses acquired by TPV in 2009 and 2010. Concerning the 2010 acquisition of Philips branded colour TV business in China, there is no overlap between the parties' activities in the EEA. The proposed transaction would only lead to a small overlap on a potential global market for the sale and distribution of branded colour TVs. However, the merged entity will only have a small market share and will continue to face numerous strong competitors after the proposed transaction. The Commission therefore concluded that the concentration will not raise competition concerns.
