EC eyes Warburg deal

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The Independent Online
The European Commission said it was reviewing the planned take- over of British investment bank, SG Warburg, by Swiss Bank Corporation Group. In a statement to be published in the EU's official journal, it says the deal falls under the merger rules prohibiting the creation or strengthening of a dominant position in the Union.

The Commission has about a month to clear the operation or start an in- depth investigation into it.