Takeover approved

European Union regulators have given their approval for the proposed takeover of British chocolate maker Cadbury by US foods giant Kraft.

The American company is allowed to proceed with its plans, so long as it sells off Cadbury's Polish and Romanian chocolate businesses in order to eliminate anti-trust concerns.

The EU's competition commissioner Neelie Kroes says she is satisfied that the planned take over would not negatively affect competition in Europe. Cadbury shareholders have until February 2 to decide whether to accept the 11.45-billion-euro ($16.5-billion) deal.

However, Cadbury's management have said it is determined to remain independent.

mk/AP/Reuters
Editor: Trinity Hartman