Press Release: Mergers: Commission approves acquisition of Philips’ branded colour TVs business by TPV

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the branded colour TV business of the Dutch company Koninklijke Philips Electronics N.V. by TPV Technology Limited, a manufacturer of colour TVs and computer monitors based in Bermuda.

The Commission concluded that the transaction will not raise competition concerns due to the limited overlaps between the parties' activities and to the fact that sufficient alternative sources of supply will continue to be available to the merged entity's customers in all markets concerned.