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February 24, 1994

DTI CLEARS THE NORTERN TELECOM / ALCATEL DEAL

By CBR Staff Writer

The UK Department of Trade & Industry accepted the Monopolies & Mergers Commission conclusions on the proposed sale by Northern Telecom Ltd of its STC Submarine Systems business to Alcatel Alsthom SA unit Alcatel Cable SA for 600m before tax and other expenses, and cleared the deal, agreeing that any tendency a merged group might have to abuse market position would be kept in check by competition between suppliers and the strong purchasing power of those commissioning submarine cables; while the sale would reduce an already small number of suppliers in the long-haul sector of the market, market concentration might be inevitable, given the increasing complexities of the product and the need for research and development and capital investment.

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