EU okays TPV buy of Philips' TV sales unit in China

BRUSSELS Nov 9 (Reuters) - Hong Kong's TPV Technology (0903.HK) secured European Union regulatory clearance on Tuesday for its purchase of Dutch group Philips' (PHG.AS) branded colour TV sales and distribution business in China.

The European Commission, the EU competition watchdog, said in a statement the acquisition did not raise any competition concerns.

"The proposed transaction would only lead to a small overlap on a potential global market for the sale and distribution of branded colour TVs," the EU executive said.

The merged entity would only have a small market share and would continue to face strong competition, it said.

TPV, the world's largest contract computer monitor maker, is partly owned by China Electronics Corp. (Reporting by Foo Yun Chee, editing by Rex Merrifield)