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Germany's Otto wins EU okay for Primondo asset buy

BRUSSELS, May 10 (Reuters) - Germany's Otto, the world's biggest mail-order group, gained EU regulatory approval on Monday for its purchase of assets from German peer Primondo, part of bankrupt German retailer Arcandor. Otto is buying trademarks, trademark applications, domains, and certain image rights. "The effects of the proposed acquisition are essentially confined to Switzerland," the European Commission said in a statement. The European Union competition watchdog said the deal would not be a significant barrier to effective competition in the region. Arcandor filed for insolvency in June last year. (Reporting by Foo Yun Chee, editing by Pete Harrison) Keywords: PRIMONDO OTTO/EU (foo.yunchee@thomsonreuters.com; tel +32 2 287 6844; Reuters Messaging: foo.yunchee.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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