All but one of the required regulatory clearances have been granted
The Phonak Group is pleased to announce that it has received all but one of the required regulatory approvals, including that of the competition authorities in the United States of America, concerning the agreed acquisition of the ReSound Group. The German Federal Cartel Office (Bundeskartellamt) is still reviewing the acquisition and is currently at the stage of the main examination proceedings. Even though Phonak had hoped to have received all required regulatory approvals by now, Phonak reiterates its expectation to close the acquisition of the entire ReSound Group in the first half of calendar year 2007.
Phonak Holding AG - At the pulse of innovation
Headquartered near Zurich, Switzerland, the Phonak Group specializes in the design, development, production, and worldwide distribution of technologically advanced hearing systems. Our expertise in hearing technology and close cooperation with hearing care professionals allow us to make substantial improvements in the lives of the hearing-impaired and those close to them.
Through our multiple brands, the Phonak Group offers a complete range of digital hearing instruments, along with high-tech specialty products and complementary wireless communication systems. With our 3,700 employees worldwide, the Phonak Group has become one of the technological leaders in the industry.
For more information please visit www.phonak.com
