General Motors has received European Commission clearance for its purchase of 42.1% of bankrupt Daewoo Motor for $US251 million in cash, Reuters reported, citing an EU statement.
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“The Commission has found that the operation will have no anti-competitive impact, either in the manufacture and supply or in the wholesale and retail distribution of passenger cars and light commercial vehicles, given the number of other strong competitors in the European market, and has decided to clear the operation,” the EU said, according to Reuters.
