EU Approves Suez-GDF Merger
The EU has approved a merger between French energy giants Suez and Gaz de France (GDF). There had been a lot of opposition because the French government owns 70% of GDF, but they will be forced to reduce their holdings to 33%. The move came in response to a hostile takeover bid by Italy's Enel which angered Italian officials, but no wrong doing was found. The new merger will also have to sell off holdings in Belgium because of fears they would dominate the Belgian market. For all the details, read on here.