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Industry: Email Alert RSS FeedEc Gives Green Light To Packard Bell Nec Deal
Computergram International, Sept 8, 1998
The European Commission said Friday that it had approved the deal that will see NEC Corp take a controlling interest in US PC maker Packard Bell NEC. The EC noted in its approval that there is no major antitrust concerns as a significant number of competitors exist in the European market. In July, NEC announced that it would invest roughly $225m in Packard Bell NEC, upping its stake to 52.81% from the current 49% and making it a subsidiary of the global Japanese company (CI No 3,465).
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Groupe Bull's shareholding has been trimmed from 13% to 11.68% as a result. NEC first began investing in Sacramento, California-based Packard Bell in 1993.
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