A PYMNTS Company

Germany: Telefonica bargains for E-Plus buy

By  |  June 25, 2014

Telefonica just struck an agreement with competition in Germany in efforts to secure regulatory approval for its acquisition of Royal KPN’s Germany operations.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to reports, Spain’s Telefonica agreed to divest network capacity to Drillisch if the European Commission approves the plan to acquire E-Plus. Under terms of the sale, Drillisch would acquire 20 percent of the total capacity Telefonica would hold following the merger; Drillisch does not have its own network.

    Telefonica was reported to be in similar discussions with other German mobile operators Freenet and United Internet, but sources say those talks have ended.

    The Commission was rumored last week to be planning an approval of the $12 billion transaction, though no formal clearance has been given. Telefonica announced its agreement with Drillisch on Wednesday and said it expects a decision by EU authorities some time next month.

    Full content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.