BRUSSELS (Thomson Financial) - The European Commission said it has cleared
the proposed acquisition of UBI Vita, the life insurance branch of UBI SpA , by
Aviva Italia Holding SpA, both of Italy.
Aviva Italia is active in the insurance sector in Italy and belongs to the
UK-based Aviva PLC, which is also active in the insurance sector, and long-term
savings and fund management business around the world.
UBI Vita is active in the life insurance sector.
The commission's examination of the proposed deal showed that the horizontal
overlaps between the activities of Aviva Italia and UBI Vita would not result in
high market shares on any market.
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