Biz News Flash

EU approval for PetroChina bid

(China Daily)
Updated: 2011-05-17 13:46

The European Union's (EU) antitrust regulator on Friday approved a bid by PetroChina Co Ltd to take joint control over certain assets currently wholly owned by Ineos AG of Switzerland.

After examining the operation, the European Commission concluded that "the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it".

China Daily-Agencies