EU approves Pepsi bottlers merger

The European Union has approved the proposed takeover by PepsiCo Inc. of it its two top bottling companies for $7.8 billion.

The EU Commission said Tuesday that the acquisitions of PepsiAmericas and the Pepsi Bottling Group "would not significantly impede effective competition" in Europe.

Pepsi decided to buy the companies to streamline its operations, save costs and get its soft drinks onto the market more quickly.