EU approves joint Toshiba-Samsung venture

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EU approves joint Toshiba-Samsung venture

The European Commission approved a joint venture Thursday involving the optical-disk drive divisions of Japan’s Toshiba Corp. and Korea’s Samsung Electronics Co. Ltd. to produce CD-ROM and DVD-ROM units. Ownership of the new company, to be called Toshiba Samsung Storage Technology, will be divided with 51 percent by Toshiba and 49 percent by Samsung Electronics. Combined revenues are expected to be about $2.3 billion this year.

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