Europe OKs BAE Exit from EO

The European Commission has given its approval to an agreement between BAE Systems and Finmeccanica in which the British company essentially withdraws from its UK-based electro-optical sensor business. Under the agreement the two companies have agreed that BAE Systems Avionics and Finmeccanica’s Galileo Avionica SpA will be merged into a new company 75% owned by Finmeccanica and 15% by BAE Systems.|

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