In 1962 Philips Phonographische Industrie in Baarn, The Netherlands, bought the Chicago based record company Mercury. In Europe EMI had a contract with Mercury for distribution and also for the cooperation regarding new recordings. Philips had to respect the EMI contract and were naturally obstructed by it until it expired at the end of 1963. There were at the time some problems concerning the sales of Mercury Living Presence releases in other European countries because Philips wanted to start distributing their newly acquired label. Therefore Philips could only fully benefit from its purchase from 1963 on. What happened to the catalogue of the well known company for which Bob Fine, Wilma Cozart Fine and Robert Eberenz made the Living Presence recordings which were mastered by George Piros? 

In the nineteen seventies there were many different series of both Philips and Fontana in existence a fact which led to much confusion. Restructuring the catalogue seemed necessary and as the Fontana label eventually ceased to exist much of its contents was released in the Philips Grandioso series while most of the time use was made of the Fontana and original early Philips matrixes.

In 1963 Philips made pressings of Mercury tapes for the European market on the orange colored label in Philips style with the Mercury logo in the series MGL 120 (mono) and MGY 130 (stereo). Original matrixes as well as fronts of the American covers were supplied by Mercury of recordings of popular works that could be marketed in Europe. Those were recordings from Mercury's 90000 series, the second series of stereo recordings. When advertising the releases emphasis was always put on the technical quality of the 'Living presence' recording using quotes of reviewers and copywriters like 'outstanding engineering', 'exciting', 'brilliance in sound', 'astonishing clarity', 'electrifying spectacular'. I mention reference numbers of some of these 'European' releases.

There were also transfers to a 134 series with Mercury logo, 134 303 MVY being one of these with Dorati and the Minneapolis Symphony conducting Gershwin's Rhapsody in Blue (with pianist Eugene List), Cuban Overture and An American in Paris (Am. Mercury 90290); or a recording of Gina Bachauer playing the Chopin Op. 11 Concerto and some piano pieces (Am. Mercury 90368).
Not much later several tapes were released in the 838 series and a few recordings like Byron Janis with the Liszt Concertos, and with Schumann's Concerto, Scheherazade with Antal Dorati and Gina Bachauer with Beethoven's 5th Concerto were released in the 839 series (531, 532, 599 and 535 respectively).
The MGY 130 series were gradually abandoned altogether although some items remained available in a few other European countries for several years but many were now pressed from Philips matrixes. The only Mercury that was mentioned in 1972 in the Philips catalogue was the spectacular best-selling MGY 130 514. In the Classical Catalogue 1972/73 the Fontana edition was announced. In the 838 series Beethoven's 5th Piano concerto with Gina Bachauer and Stanislaw Skrowaczewski has reference number 500. Beethoven's 5th with Antal Dorati and Schubert 'Unfinished' with Stanislaw Skrowaczeski is 838 502. On 838 503 Hans Schmidt-Isserstedt conducts the two Mozart symphonies. And the music from Coppélia (Délibes) conducted by Antal Dorati and from Sylvia (Délibes) conducted by Anatole Fistoulari is now on 838 505.
Because Philips was a household name in many countries it was probably easier to sell Mercury recordings on the Philips label. A number of recordings made in cooperation with the Mercury team were released directly on the Philips label as was the case with Blue beard's Castle (Bartók) performed by Olga Szonyi and Mihaly Szekely, and Antal Dorati conducting the London Symphony Orchestra (in the US Mercury 90311).
An early example are the recordings of the Piano concertos Nos. 1 and 2 of Franz Liszt played by Yuri Boukoff and conductor Laszlo Somogyi (Am. Mercury 18066) which was released in the Philips 835 series and later on Fontana 894 009. And there were more:

I am not sure if excerpts from Lulu and Wozzeck (Alban Berg) conducted by Dorati were released for the first time as 839 263 (Mercury 90278) and music by Schoenberg, Berg and von Webern conducted by Antal Dorati as 839 264 (Mercury 90316).