Kabel Deutschland dropped its appeal against antitrust authorities’ February decision to block its takeover of Tele Columbus, Marco Gassen, a Kabel spokesman in Unterfoehring, Germany, said by telephone today.
“The success of Vodafone’s takeover bid means the competitive conditions have changed,” Gassen said. “Pursuing a probably time-consuming court case no longer makes any sense.”
Vodafone plans to complete its 7.7 billion-euro ($10.4 billion) takeover of Kabel Deutschland next month after a majority of the German company’s shareholders accepted the deal and the European Commission gave its approval. The purchase is a key tenet of Newbury, England-based Vodafone’s ambition to expand beyond wireless service.
Liberty Global Plc. (LBTYA)’s antitrust clearance to buy cable operator Kabel Baden-Wuerttemberg GmbH was last month overturned by a Dusseldorf court that said the competition authority didn’t demand tough enough concessions.
Reuters reported Kabel Deutschland’s decision to withdraw its appeal earlier today.
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