The EU Commission authorizes the creation of a joint venture for retail of diamond jewelry (LVMH / De Beers)

"Merger control: main developments between 1 May and 31 August 2001"* In July, following an in-depth investigation under the Merger regulation, the Commission authorised the creation of a joint venture between De Beers and LVMH. This joint venture company, Rapids World, will be active in the retail of diamond jewellery to be sold under the De Beers brand. However, while clearing the joint venture itself, the Commission at the same time sent a statement of objections to De Beers on its Supplier of Choice agreements, which have also been notified for regulatory approval, warning that the agreements violate EU competition law as they currently

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