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EU: Commission objects to Telefonica, KPN deal, sources say

By  |  February 18, 2014

The European Commission will likely object to Telefonica’s acquisition of KPN’s Germany unit, according to two sources, in a decision that follows a jurisdiction battle between EU and German competition regulators.

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    Germany had fought to win jurisdiction to review the merger, but the Commission overruled the member state’s wishes.

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    Now, two unnamed sources told reporters that the Commission has issues with the deal and is likely to inform the parties next week through a formal statement of objections.

    The Commission launched a probe into the merger late last year. Reports speculate that the regulator will likely demand concessions from Spain’s Telefonica.

    Full Content: Reuters

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