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EU approves merger of Chevron, Texaco
REUTERS
Brussels European Union competition authorities said on Th ursday they had approved Chevron Corp's purchase of smaller rival Texaco Inc which would create the world's fourth largest oil company. "The number of areas where the companies' activities overlap in Europe are limited and where they do (overlap), the combined market shares remain below 15 per cent," the European Commission said in a statement.The purchase would give the combined firm an output of 2.7 million barrels per day. The two firms have interests in more than 40,000 gasoline stations around the world. The deal still requires approval from the US anti-trust authorities Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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