Press Release: Mergers: Commission clears Goldman Sachs’ acquisition of Pirelli’s energy and telecoms cable businesses

The European Commission on 6 July 2005 approved under the EU Merger Regulation the proposed acquisition of two divisions of the Italian company Pirelli by the US investment bank Goldman Sachs. These two divisions, 'Pirelli Cavi e Sistemi Energia' and 'Pirelli Cavi e Sistemi Telecom', are active in the global production and sale of cable systems in the energy and telecommunications sectors. The Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

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