EU approves Areva-EDF nuclear reactor combination

The European Union has approved the takeover of the reactor business of Areva by nuclear giant EDF in an all-French transaction, arguing it will not affect healthy competition in the sector.

The European Union's executive Commission said Monday that "the proposed takeover is unlikely to cause competition issues" and that the combined group would not be able to push out competitors in the market for the design and construction of new reactors because of the specific characteristics of the sector.