July 23, 2018 / 2:49 PM / a month ago

EU Commission opens in-depth probe into Thales, Gemalto deal

BRUSSELS (Reuters) - The European Commission on Monday said it had opened an in-depth investigation into the 4.8-billion-euro ($5.62 billion) purchase of digital security company Gemalto (GTO.AS) by French aeronautics and space group Thales (TCFP.PA).

FILE PHOTO: adjust and clean the logo of the European Commission at the entrance of the Berlaymont building, the EC headquarters, in Brussels September 12, 2013. REUTERS/Yves Herman

“The Commission is concerned that the merger could lead to higher prices and reduce choice and innovation for customers of hardware security modules,” the Commission, which acts as the competition enforcers in the European Union, said.

It added that the new deadline for taking a decision was November 29.

Reuters reported last week that such an investigation would take place.

Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop

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