The European Union (EU) has cleared the way for China's CoscoCS to take over OOIL, the Hong Kong owner of container line OOCL.

An investigation found no competition concerns due to the presence of significant competitors after a merger, according to an MLex case summary.

It also cited CoscoCS's marginal share of northern Europe to US trade.

The $6.3bn deal was cleared earlier this year by Chinese and US regulators.