Telefonica Wins Conditional EU Approval for E-Plus Deal
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Telefonica SA won European Union approval to merge its German unit with Royal KPN NV’s E-Plus after it pledged to bolster smaller rivals and divest spectrum, the European Commission said.
Telefonica must sell as much as 30 percent of the merged carrier’s network capacity to one or several virtual operators before it can close the takeover, EU regulators said in a statement today. The merged company must also offer to sell spectrum and assets to a potential new entrant to the market or to help virtual operators expand. It will also extend existing wholesale access deals.