(Corrects deal value to $4.1 billion from $14.1 billion)
OTTAWA Feb 8 Canada's competition watchdog gave
the green light on Friday to Royal Bank of Canada's
plans to buy the Canadian auto finance and deposit arm of Ally
Financial Inc for $4.1 billion.
"The Bureau concluded that the proposed transaction was not
likely to lead to a substantial lessening or prevention of
competition for several reasons, including the fact that RBC's
post-transaction market shares in the relevant markets would be
modest, and that there would be sufficient remaining
competition," the Competition Bureau said in a statement.
The deal is also subject to approvals by the finance
ministry and the bank regulator, the bureau said.
(Reporting by Louise Egan; Editing by Janet Guttsman)