EU Allows Nokia to Offload Mobile Radio Unit to EADS

Brussels -- The European Commission announced that it has approved
the proposed acquisition of Nokia's professional mobile radio (PMR)
division to the European Aeronautic Defence & Space Co. (EADS).
PMR networks are wireless systems used by emergency services,
police, taxis and truck drivers. The Commission said the deal would not
significantly impede competition in Europe. "Despite relatively high
combined market shares in the EEA, the Commission's market
investigation ... confirmed that there are sufficient current competitive
constraints within the PMR market to preserve effective competition,"
the Commission said. EADS said it expected to close the deal, currently
valued at about 90 million euro, by year's end.
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