BRUSSELS (Dow Jones)--The European Commission Friday cleared Italy's Enel SpA (ENEL.MI) to buy a 67.5% stake in Romanian state-run retail power company Electrica SA.
The commission said the deal wouldn't create antitrust problems, since the combined companies will still face strong competitors in the retail supply of electricity in southern Romania.
Enel is paying EUR820 million for the stake. Its takeover has been delayed while Romanian justice authorities investigate previous privatization deals.