EADS Receives EU Approval to Buy SSTL

[Satellite Today 12-18-08] EADS has gained clearance from European Union (EU) antitrust regulators to buy British satellite maker Surrey Satellite Technology Ltd. (SSTL), the European Commission announced Dec. 18
    EADS Astrium announced in April that it would acquire an 80 percent stake in SSTL from the University of Surrey. Financial terms of the deal were not disclosed.
    Commission experts concluded that customers in the export market for Earth observation satellites would still have a choice between several significant alternative suppliers after the transaction takes place.
    “The transaction would not significantly impede effective competition within the European economic area,” the Commission, which regulates EU competition policy, said in a statement.