The European Commission on Friday approved Tata Steel's proposed acquisition of Anglo-Dutch steelmaker Corus.
"The European Commission has cleared under the EU merger regulation the proposed acquisition by the Indian steel producer Tata Steel of Corus Group Plc," the Brussels-based regulator said in a statement.
The Commission is expected to announce its decision on a rival bid for Corus by Brazilian steel firm CSN by February 5, 2007.
Tata Steel is in the middle of a takeover battle for Corus with Brazilian steelmaker CSN, which had made a higher bid of 515 pence per Corus share as against 500