Syniverse Offers Concessions to Allay EU Concerns Over Mach BidAoife White
Syniverse Holdings Inc. offered concessions to European Union regulators in an effort to allay antitrust concerns over its plans to buy Mach, a competing provider of services to mobile-phone companies.
Syniverse submitted the offer on March 11, the European Commission said in a filing on its website today. It didn’t give details of the company’s proposal. The EU must rule on the deal by May 30.
Syniverse said last week that the EU sent it an antitrust complaint listing possible competition problems with the deal’s effect on markets for data clearing and near real-time roaming data exchange. Syniverse, owned by Carlyle Group LP, agreed to buy Luxembourg-based rival Mach for about 550 million euros ($717 million) in July.
Companies can offer to sell units or change the way they do business in order to win regulators’ approval and eliminate concerns that a deal will expand their control of a market and harm competition with rivals or increase prices for customers.
Bobby Eagle, a spokesman for Tampa, Florida-based Syniverse, declined to comment on the commitments. He said the company is “unable to share specific details” on the transaction beyond its public filings.
The EU opened an in-depth probe in December, saying the merger may hamper competition by forming the largest data-clearing house “by a very wide margin” for settling usage records for consumers making calls or using data on telephone networks for telecommunications providers.