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European Commission Approves Merger of Chrysler With Daimler-Benz

23 July 1998

European Commission Approves Merger of Chrysler With Daimler-Benz

    AUBURN HILLS, Mich., July 23 -- The European Commission (EC),
Brussels/Belgium, has approved the planned merger between Chrysler
and Daimler-Benz , marking another significant step in the merger
process.
    "We are very pleased with the EC's determination that the pending merger
does not raise any European antitrust concerns," said Tom Stallkamp,
President, Chrysler Corporation, responsible for the integration.  "This
decision confirms the compatible nature of the product lines of both companies
-- we appreciate the Commission's vote of confidence."
    The shareholders of Chrysler and Daimler-Benz are to decide on the planned
merger in their extraordinary meetings scheduled to be held in Wilmington,
Delaware and Stuttgart, Germany, respectively, September 18, 1998.
Shareholders of both companies will receive additional information on the
merger in August.