Phoenix AG
EU Commission approves takeover of Phoenix AG
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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EU Commission approves takeover of Phoenix AG
Continental AG advised Phoenix AG that today the European Commission has
approved the merger between Continental AG and Phoenix AG. According to
Continental AG’s statements, all suspensive conditions of the tender offer
have now become effective and the offer can be executed.
Regarding certain air springs and steel-cable conveyor belts, conditions have
been attached to the approval. The Commission raised competitive concerns
indicating that a dominant market position in these areas could result from
the filed incorporation. To remove the concerns of the EU Commission,
Continental AG gave the related sells commitments.
More details are available in the press release on the web page
http://www.phoenix-ag.com in the section “News” and “Investor Relations”
respectively.
end of ad-hoc-announcement (c)DGAP 26.10.2004
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WKN: 603100; ISIN: DE0006031008; Index: SDAX
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime
Standard), Hamburg und München; Freiverkehr in Stuttgart
261806 Okt 04
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