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EU clears Barclays, RBS medical services purchase

Mon Jul 6, 2009 11:07am EDT

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BRUSSELS, July 6 (Reuters) - British banks Barclays (BARC.L) and Royal Bank of Scotland (RBS.L) won permission from the European Commission on Monday to acquire USP Group, a private network of medical assistance services mostly active in Spain.

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The Commission, executive arm of the 27-nation European Union, said a in a statement that the transaction would not significantly impede effective competition.

"Neither Barclays nor RBS are present on any market where USP is active. Thus the operation triggers no horizontal overlap. In addition, there are no vertical or conglomerate concerns," the statement said.

The retail and investment banks will take control of USP which provides medical services, including hospitalisation, medical laboratory, diagnostics, specialised medical tests, intensive care and emergencies services.

USP's activities are mostly located in Spain.

Double click on the newslinks below for the relevant topics:

[EU-REGS-RTRS-LEN] For stories on competition issues

[EU-REGS-AID-BACT-RTRS-LEN] For stories on state aid, M&As (Reporting by Bate Felix)

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