European Commission has imposed restrictions on a joint venture between electronics producer Siemens and Japanese information technology firm Fujitsu, after expressing "serious competitive concerns in the financial workstations market".
Commission decision announced on 1 October gave a conditional go ahead to the creation of a joint computer hardware company subject to Siemens selling its Nixdorf Retail and Banking Systems GmbH subsidiary.
"The commission found that the operation will not create or strengthen a dominant position. However, the clearance has been subject to the companies' compliance with certain commitments, designed to remove the risk of co-ordination in the market for financial workstations," it said.
Financial workstations are automatic teller machines (ATM) and cash dispensers which are connected to a central computer linked with computerised bank accounts.
The joint venture company will combine Siemens and Fujitsu European production of computer hardware and related products in Europe, the CIS the Middle East and Africa.
Siemens and Fujitsu have a combined market share of less than 15 per cent of the European Economic Area market share for desktop computer hardware, less than 30 per cent in Germany and less than 20 per cent in Austria. For entry servers their combined market share in the European Economic Area is less than 10 per cent.
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