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EU: Europe’s $55B oil merger approved

By  |  March 8, 2013

The European Commission has reportedly approved of an estimated $55 billion merger between Rosneft and TNK-BP. The oil companies have apparently cleared the deal as authorities see no significant competition concerns for Europe’s oil sector. According to the Commission, the merger was “closely analyzed” and analysis focused on whether Rosneft operated “independently of state or government.” According to reports, the deal would lead to a significant market position to go against the current leader Exxon Mobil.

 

Full Content: Reuters

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