EU competition regulator clears HP buyout of 3Com

The European Commission on Friday cleared the purchase by US computer giant Hewlett-Packard of networking company 3Com, saying it would not harm competition in Europe.

"The commission concluded that the concentration would be unlikely to raise competition concerns," the EU's competition watchdog said in a statement.

"The commission's investigation confirmed that the merged company would continue to face a number of global and effective competitors giving customers the choice from a range of alternative providers," it said.

Hewlett-Packard, the world's largest computer maker, announced in November that it had agreed to buy 3Com for 2.7 billion dollars (two billion euros) in a move it hoped would help them further expand in the growing Chinese market.