Sumitomo Electric wins EU permission to buy VW unit


BRUSSELS, March 30 (Reuters) - Sumitomo Electric Industries Ltd. of Japan won permission from the European Commission on Thursday to buy the auto wire harness business of Volkswagen , the European Commission said. "The Commission conlcuded that the transaction would not significantly impede effective competition in the European Economic Area," the Commission said in a statement. The unit, Volkwagen Bordnetze, generated 2005 sales of 440 million euros ($528 million) through the exclusive ...

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