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Article: REAL ESTATE: COMMISSION CLEARS DEALS. (European Commission).(Brief Article)
- Article from:
- European Report
- Article date:
- September 4, 2002
CopyrightCOPYRIGHT 2002 Europolitics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The European Commission has cleared two joint ventures in the field of sale and lease of immovable property for commercial use to be set up by US investment bank Morgan Stanley Dean Witter & Co. and Italian information technologies and telecommunications group Olivetti/Telecom Italia. The decision was announced on August 30.
Both Morgan Stanley and Olivetti/Telecom Italia have activities, through controlled companies, in the sale and lease of immovable property for commercial use in Italy, in particular in the sale and lease of offices. Under this transaction, two private equity funds controlled by Morgan Stanley and other companies belonging to the ...