EU Commission opens in-depth probe into Thales, Gemalto deal

BRUSSELS (Reuters) - The European Commission on Monday said it had opened an in-depth investigation into the 4.8-billion-euro ($5.62 billion) purchase of digital security company Gemalto by French aeronautics and space group Thales. 'The Commission is concerned that the merger could lead to higher prices and reduce choice and innovation for customers of hardware security modules,' the Commission, which acts as the competition enforcers in the European Union, said. It added that the new deadline for taking a decision was November 29

Reuters July 24, 2018 00:05:54 IST
EU Commission opens in-depth probe into Thales, Gemalto deal

EU Commission opens indepth probe into Thales Gemalto deal

BRUSSELS (Reuters) - The European Commission on Monday said it had opened an in-depth investigation into the 4.8-billion-euro ($5.62 billion) purchase of digital security company Gemalto by French aeronautics and space group Thales.

"The Commission is concerned that the merger could lead to higher prices and reduce choice and innovation for customers of hardware security modules," the Commission, which acts as the competition enforcers in the European Union, said.

It added that the new deadline for taking a decision was November 29.

Reuters reported last week that such an investigation would take place.

($1 = 0.8547 euros)

(Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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