The EU's competition authority on Wednesday approved the blockbuster takeover of Germany's Opel by France's Peugeot PSA that will create Europe's second-largest carmaker after Volkswagen. PSA - which also owns Citroen and DS - agreed in early March to pay some 1.3 billion euros ($1.46 billion) for Opel, a storied German firm owned by US auto giant General Motors for decades, as well its British subsidiary Vauxhall.