Less than a week after receiving the blessings of the U.S. Federal Trade Commission, Dell Inc.’s proposed acquisition of EMC Corp. has cleared another major regulatory hurdle on the other side of the pond. The European Commission announced this morning that it’s decided to follow in the footsteps of its stateside counterpart and approve the $67 billion deal.

The agency’s head, Margrethe Vestager, noted in a statement that the move to greenlight the transaction was met with no internal opposition. Such unequivocal support from regulators is rare for acquisitions in the 11-figure range due to the possible negative impact on competitive conditions and customer choice. However, the European Commision determined that the purchase of EMC won’t grow Dell’s share of the data center storage market to the point where rivals may struggle to stay in business.

The ruling supports the optimistic stance that Roy Read, the executive appointed by the company to lead the implementation the merger, took in an open letter to employees published earlier this month. The memo echoed an earlier statement from EMC boss Joe Tucci that the acquisition is on track to complete by its October deadline, but didn’t say anything about the road ahead being easy. Dell still needs to receive regulatory approval in nearly a dozen countries and avoid the potentially deal-breaking tax bill that the U.S. Internal Revenue Service may impose on the transaction.

Then there’s also the matter of winning over the shareholders of EMC and virtualization subsidiary VMware Inc., who are naturally looking to squeeze the most out of the deal. The pressure from the market has already forced Dell to cancel its plans for a joint cloud venture between the two companies and is showing no signs of relenting. Unless a compromise is reached with investors by October, the price of the merger may end up exceeding $70 billion.

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