BRUSSELS, Dec 19 (Reuters) - The European Commission on Thursday approved plans by DaimlerChrysler of Germany and Korea's Hyundai Motor Co for a commercial vehicle joint venture.
Hyundai, South Korea's largest carmaker, has said it expected to launch the the tie-up around the first half of 2003.
DaimlerChrysler, the world's largest truckmaker, intends to exercise an option to buy half the joint venture by the end of 2002 for about 400 million euros.
The transaction was approved under the Commission's simplified procedure, used when neither customers nor rivals have complaints about a deal.