Compaq Message Board - Msg: 16990010

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Technology Stocks : Compaq

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To: Elwood P. Dowd who wrote (95018)	1/31/2002 12:30:06 PM
From: Night Writer	of 97611

European Commission Clears HP-Compaq Merger PALO ALTO, Calif., Jan 31, 2002 (BUSINESS WIRE) -- The European Commission has today given formal clearance to the merger between Hewlett-Packard Company(NYSE:HWP) and Compaq Computer Corporation (NYSE:CPQ), following its examination of the case under the EU Merger Regulation. The Commission's review was completed in the one-month first phase timescale provided for by the Regulation. The Commission's one-month Phase I clearance followed a lengthy prenotification review conducted by the Commission after the parties signed their merger agreement on Sept. 4, 2001. "We are extremely pleased with the EU's decision," said Carly Fiorina, HP chairman and chief executive officer. "Today's announcement confirms that the deal does not raise competition concerns in Europe, and we see it as an encouraging step in the continuing process of satisfying regulators worldwide that this deal will provide a real stimulus for competition in information technology markets."

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