TMCnet - World's Largest Communications and Technology Community

TMCNet:  EU clears Telefonica's takeover of German E-Plus

[July 02, 2014]

EU clears Telefonica's takeover of German E-Plus

(Associated Press Via Acquire Media NewsEdge) BRUSSELS (AP) — The European Union's antitrust authority has approved mobile network operator Telefonica's 8.55 billion-euro ($11.7 billion) bid to buy its competitor E-Plus under certain conditions, creating Germany's biggest mobile phone company in terms of customers.

The EU Commission said Wednesday the deal is conditional on Telefonica selling up to 30 percent of the merged company's network capacity to service providers to boost competition.

It says Telefonica must also shed some assets and improve conditions offered to service providers. Those firms sell mobile phone contracts without having their own network, relying on wholesale agreements with incumbent operators.

Telefonica agreed to purchase E-Plus from Dutch telecommunications company Royal KPN NV, after winning the support of KPN's biggest shareholder, Mexican billionaire Carlos Slim.

Telefonica plans to merge E-Plus with its own German arm, O2.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

[ Back To Technology News's Homepage ]


Technology Marketing Corporation

800 Connecticut Ave, 1st Floor East, Norwalk, CT 06854 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2014 Technology Marketing Corporation. All rights reserved | Privacy Policy