Brussels - The European Union on Wednesday approved Sony's takeover of Seiko Epson's flat-screen business unit, ruling it would not harm competition in Europe. "The combined entity will have neither 'must-have' technologies nor unique products that competitors would be unable to produce," the EU's executive, the European Commission, said in a statement.
Under the deal, Sony would take over Seiko Epson's production of small- and medium-sized flat-screen LCDs, to add to its own portfolio of such screens.
The deal had raised fears in Europe that it could give Sony an unfair edge over rival producers and lead to less choice and higher prices for consumers.
But EU regulators decided that the takeover "would not raise any ... competition concerns under any possible market definition."
That is because Sony would still face "a number of strong and effective competitors and many large and sophisticated customers," the EU's ruling said.
The commission acts as the EU's competition watchdog, and can block takeovers if it fears they would reduce consumer choice.
