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EU green lights Prada's bid for Versace
EU green lights Prada's bid for Versace
by  AFP

The EU on Tuesday cleared Italian fashion label Prada's 1.25-billion-euro ($1.5-billion) purchase of rival Versace after finding the acquisition raised no competition concerns. The European Commission said it concluded the purchase "would not raise competition concerns, given the companies' limited market positions resulting from the proposed transaction".

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