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EU Clears Telefonica SA, CaixaBank SA, Banco Santander SA E-commerce Joint Venture-DJ

Wednesday, 14 Aug 2013 01:03pm EDT 

Dow Jones reported that the European Union's antitrust authorities On August 14, 2013 cleared the creation of a joint e-commerce venture between Telefonica SA, CaixaBank SA and Banco Santander SA. The joint venture aims to develop a virtual community for merchants and consumers in Spain providing, among other things, digital advertising and data analytics services to merchants. The Commission judged that there is a limited overlap between the firms in the provision of digital advertising services, and that new entity would continue to face competition from global players like Google and Yahoo!. It dismissed the other competition concerns about the proposed joint venture. 

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