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NKT granted approval for acquisition

The European Union has notified the Danish cable manufacturer NKT that the acquisition of ABB's cable division does not violate competition rules.

Denmark's NKT is one step closer to becoming a major player on the European market for electrical cables.

The company announced to the market Monday that the European Commission has approved the large-scale acquisition of ABB's cable business. The plan can thus proceed for the integration of the two companies.

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