EC gives green light to BAe and Marconi

The European Commission's (EC) competition directorate has approved the civil side of the planned $12.7 billion merger between British Aerospace and Marconi Electronic Systems, the defence electronics and aerospace arm of GEC.

The military element of the merger escaped scrutiny in April, after the UK Department of Trade and Industry invoked Article 223 of the Treaty of Rome, on the basis of national security, and placed this aspect of what is largely a defence deal beyond the EC's remit.

The company hopes to obtain the necessary UK and US regulatory approval this month.

Source: Flight International