EU Watchdog Approves Foxconn and Telia Ventures, Ensuring Market Competition
The European Commission has approved two significant merger cases involving Foxconn and Telia, under EU merger rules. Foxconn, officially known as Hon Hai Precision Industry Co., Ltd, is set to form a joint venture with Mitsubishi Fuso Truck and Bus Corporation, which is controlled by Germany's Daimler Truck AG. This venture focuses on the manufacture and supply of heavy and light buses. The Commission determined that this transaction would not raise competition concerns due to its limited impact on the European Economic Area. In a separate decision, Telia Company AB of Sweden and Brookfield Asset Management Ltd of Canada have been cleared to jointly control Valokuitunen Oy of Finland. This transaction pertains primarily to wholesale fixed internet access, which other providers can purchase to offer broadband services to homes and businesses. The Commission found no competition concerns here either, as the joint venture has minimal activities in the European Economic Area. Both cases were reviewed under th... 
