Ron Burgundy Posted July 2, 2014 Share Posted July 2, 2014 By Robert-Jan Bartunek and Harro Ten Wolde BRUSSELS/FRANKFURT (Reuters) - European regulators have cleared Telefonica's bid to consolidate the German mobile market by buying smaller rival KPN's E-Plus for 8.6 billion euros ($11.7 billion), raising prospects of more deals to come across Europe's telecoms markets. The European Union's powerful antitrust chief Joaquin Almunia said on Wednesday that Telefonica agreed to concessions - including selling some radio spectrum and renting out capacity on its network to smaller rivals - to ensure that the deal does not lead to higher prices for customers. The remedies are similar to those agreed by Hutchison Whampoa in May when its 3 Ireland subsidiary won approval to buy the Spanish group Telefonica's O2 Ireland for about $1 billion. "We have to take a close look at the remedies but this seems to be a blueprint for other potential deals in Europe," said analyst Adrian Pehl at Equinet Bank. View the full article Quote Link to comment Share on other sites More sharing options...
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