EU Gives Thumbs-Up to Intel, STMicro Flash Memory Partnership

Regulators from the European Union have given their blessing for a plan by Intel and STMicroelectronics to spin off and combine their respective flash memory chip units. The proposal, which also calls for a major cash infusion from a private equity firm, would not pose an unfair risk to competition in the robust flash memory market, the EU said. A number of competitors exist in the markets for both NAND flash and NOR flash, used in phones and other electronics to store and retrieve software applications.