Boeing-McDonnell merger cleared

BRUSSELS, July 30: The European Commission today formally cleared the merger of Boeing and McDonnell Douglas ending a five-month investigation which almost provoke a transatlantic trade war.

quot;There was no vote. There was no discussion,quot; an EU source said, referring to the meeting of the 20 European Commissioners.

The decision was a formality after the Euroepan Union8217;s advisory committee of national competition experts last Friday approved the dollar 15 billion deal following last-minute concession by Boe-ing aimed at reducing the de-al8217;s anti-competitive effect in Europe.

Boeing8217;s share of the commercial jets market will increase to 70 per cent from its current level of 64 per cent, leaving only European consortium airbus in a position to compete.