The European Commission has cleared two merger cases — a new bus manufacturing joint venture involving Foxconn and Mitsubishi Fuso, and Telia and Brookfield’s joint acquisition of Finnish fibre company Valokuitunen — under EU merger rules.
Foxconn, formally Hon Hai Precision Industry Co., Ltd of Taiwan, will create a joint venture with Mitsubishi Fuso Truck and Bus Corporation of Japan, which is controlled by Germany’s Daimler Truck AG, according to the Commission's announcement on Monday.
The deal relates mainly to the manufacture and supply of heavy and light buses.
The Commission concluded the transaction would not raise competition concerns because it would have a limited impact on the European Economic Area.
Telia and Brookfield cleared to take joint control of Valokuitunen
In a separate decision, Telia Company AB of Sweden and Brookfield Asset Management Ltd of Canada were cleared to acquire joint control of Valokuitunen Oy of Finland, the Commission said.
That transaction relates primarily to wholesale fixed internet access — services that other providers can buy to offer home and business broadband.
The Commission said it found no competition concerns because the joint venture has negligible activities in the European Economic Area.
Both cases were reviewed under the EU’s simplified merger review procedure, and are listed in the Commission’s public case register as M.12376 and M.12377, it said.
