BRUSSELS (Thomson Financial) - The European Commission said the deadline for
its inquiry into Merrill Lynch & Co Inc and Banco Santander Central Hispano unit
Abbey National's proposed joint venture in mortgage loans services is set for
Sept 18.
The transaction is being reviewed under the EU's 'simplified' merger review
procedure for cases which the commission believes do not pose competition
concerns.
The groups are acquiring Concert Mortgages Holdings Ltd. The venture will
focus on the provision of non-conforming mortgage loans in the UK and the
intermediation of insurance related products for these loans.
simon.zekaria@thomson.com
sz/lam
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