EU Looks At Sony/Bertelsmann Deal Again
June 26, 2007 at 5:45 AM (PT)
The EUROPEAN COMMISSION has lifted a suspension of its review of a venture by SONY and BERTELSMANN that created the world's #2 music company. It set a new deadline of OCTOBER 10, by which time it has to approve or prohibit the deal, a daily Commission merger list showed today.
The COMMISSION, the EUROPEAN UNION's highest antitrust regulator, lifted the suspension because the companies had provided information that they failed to give before.
The COMMISSION approved the deal in 2004, and the companies went ahead and created their joint venture. But a EUROPEAN court annulled that decision, and the EU executive now has to reexamine the deal.