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EC clears Rexel, Sonepar asset swaps; no decision yet on Rexel's Hagemeyer bid (corrects deadline date for latter)

( February 8, 2008, 14:15 GMT | Official Statement) -- ****************************************MLex Summary: The European Commission has cleared the first two of three deals relating to the break up of Hagemeyer by Rexel and Sonepar, those relating to asset swaps between the two remaining companies. A third deal – the acquisition of Hagemeyer by Rexel on which the deals hinge, has yet to be approved and a decision deadline is slated for Friday, 22 February (correction: a previous version of this summary identified the deadline as 11 February). Today's decisions note the “effective competition” and “competitive restraints” from rival wholesalers. Assets have been offered up for sale in the Irish market, one of which hasn't been addressed in today's decisions....

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