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(AWP Alliance News) - Germany's Volkswagen can increase its stake in car rental company Europcar to 100%, as the proposed acquisition does not raise any competition concerns, the European Commission announced on Tuesday.
Volkswagen bought Europcar back in 2022 and has held a majority stake in the Paris-based company ever since. Europcar was previously part of Volkswagen. According to the announcement, Europcar will now come under the sole control of the German automotive group.
Volkswagen plans to expand Europcar's business and transform the traditional car rental company into a provider of a wider range of mobility services.
For example, customers would be able to rent, subscribe to or share vehicles through a single app, covering everything from conventional car rentals to car-sharing services.
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