French luxury group Moet Hennessy Louis Vuitton SA (LVMH) has been cleared to take over the Italian jeweler Bulgari.

Talk of the takeover began in March but just recently was approved by regulators. According to those close to the deal and the European Commission, which has to approve cross-border mergers and acquisitions, the deal will not “significantly impede effective competition” within the European single market.
An EU executive said, given Bulgari's small market share, "LVMH will continue to face effective competition from several other manufacturers of luxury goods."
"The investigation showed that the combined activities of LVMH and Bulgari do not give rise to high market shares under any plausible market definition," the commission said in a statement.
LVHM already owns several of the world's top luxury brands, including Moet & Chandon champagne, Tag Heuer watches, and fashion labels Louis Vuitton, Fendi, Marc Jacobs, Christian Dior and Kenzo.
Bulgari is also active in the luxury hotels area.