EU Clears Recruitment Co Adecco To Buy Smaller Rival Spring
October 16 2009 - 10:40AM
Dow Jones News
The European Commission Friday cleared recruitment company
Adecco SA (ADEN.VX) to buy U.K.-based Spring Group Ltd.(SRG.LN), a
smaller recruitment company, for GBP108 million.
Through the purchase, Adecco aims to strengthen its position in
the fragmented U.K. market.
Switzerland's Adecco has been hit hard by the global downturn as
companies are forced to cut jobs and unemployment is expected to
rise further in both the U.S. and Europe in the months ahead. It
competes with the likes of Manpower Inc. (MAN) of the U.S. and
Netherlands-based Randstad Holding NV (RAND.AE).
-By Peppi Kiviniemi, Dow Jones Newswires; +3227411483;
peppi.kiviniemi@dowjones.com