Italian tyre and cable maker Pirelli may buy the Italian and British production plants of U.S. cable manufacturer BICC General, as it is likely that the European Commission are going to allow the purchase.
Pirelli has offered minor commitments to deal with any competition concerns, and are set to face enough strong competitors on the market, thus there should be no EU concern.
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The formal decision to clear the deal should be taken either on July 19 or 26.
Pirelli announced in February that its Pirelli Cavi e Sistemi SpA unit was buying some of the power cable activities of General Cable, now known as BICC General, for $216 million.
The Commission opened an extended four-month probe into the deal in April, saying it was concerned it would stifle competition in the market for very high, medium and low voltage power cables, particularly in Britain and Italy.
