EU clears Daniel Kretinsky's bid to take control of Fnac Darty

The EU competition authority gave its consent on Tuesday for the public offer that Kretinsky introduced in January to acquire a majority stake in Fnac Darty. The approval follows a prior endorsement by the French financial markets regulator, which had already deemed the transaction compliant. With this clearance, Kretinsky moves closer to full control of the electronics and cultural goods retailer. The companies involved issued a joint statement confirming the decision.