The European Commission has given itself until 27 November to rule on whether Magna’s purchase of General Motors’ European arm Opel poses competition concerns, it said on Monday.
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The commission said it had received a dossier last Thursday from Magna and state owned Russian partner Sberbank, AFP reported.
It will now study whether to approve the deal first tentatively agreed in May, impose conditions on it, or launch an investigation into the acquisition to see whether it impedes or impacts on competition in any way in Europe.
Brussels is also due, at an as yet unknown date, to give its verdict on German state aid within the framework of the deal.
The commission had been concerned that EUR4.5bn (US$6.7bn) in promised German aid was only available to Magna, which would violate EU competition regulations.
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