P. M. BRIEFING : Benz Bid for Aerospace Group OKd
The West German Monopoly Commission, an advisory body of anti-trust experts, today approved controversial plans by Daimler-Benz to buy an aerospace group but said conditions should be attached to the deal.
Politicians and industrialists have attacked Daimler’s intention to take a majority stake in Messerschmitt-Boelkow-Blohm, saying the auto maker, already West Germany’s largest company, would come to dominate the defense market.
Economics Minister Helmut Haussmann, who has the final word on the deal, will make a decision in September. The Monopoly Commission said Haussmann could make the deal conditional on the sale of MBB’s military engine division or substantial parts of its defense technology division.
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