EU Approves Fujitsu's Sale of Hard Drive Business to Toshiba

Sale won't significantly impede effective competition

EU antitrust regulators approved on May 11 Fujitsu Ltd.'s sale of its struggling hard disk drive business to rival Toshiba Corp.

"The (European) Commission concluded that the transaction would not significantly impede effective competition," Europe's top antitrust watchdog said.

Fujitsu said in February it would spin off the business into a new firm, which Toshiba will turn into a subsidiary with a stake of 80%. Fujitsu will hold 20%.

Copyright Agence France-Presse, 2009

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