U.S. auto maker General Motors received approval from European Union antitrust regulators on Friday to acquire parts of bankrupt U.S. car parts company Delphi.
The European Commission, competition watchdog of the 27-country European Union, said in a statement that the proposed buy of Delphi's mobile electronics and transportation systems would not give rise to competition concerns.
"The Commission's investigation showed that competitive pressure would continue to exist on the relevant markets due to the presence of numerous other suppliers," it said.
The EU executive had in August cleared General Motors' takeover of Delphi's steering activities. Delphi is a former subsidiary of GM.
A bankruptcy court approved the sale of Delphi to its debtor-in-possession lenders and GM in July.
Gasgoo: auto parts source
