“After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it,” the EU executive said in a statement.
Kenwood offers car electronics and audio equipment, while JVC is a medium-sized consumer electronics maker with strength in camcorders equipped with hard disk drives. Kenwood Chairman Haruo Kawahara will become chairman of the holding company, while JVC President Kunihiko Sato will become president of the new organization. (Reuters)
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