Brussels (Aug. 28, 2002) -- The European Commission has okayed Ernst & Young to take over the units which comprised Andersen Germany.According to Dow Jones, the EC said the merger "would not lead to competition problems" in Germany. Prior to the commission’s clearance, complaints surrounded the potential agreement due to E&Y merging with Andersen operations in 37 countries.
The new company will be known as Ernst & Young Germany. It will have revenue of roughly $882 million and will employ some 7,000 staff members. Ernst & Young bested KPMG in the race for Andersen's German unit.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access