A PYMNTS Company

EU: Authorities need more time for Telefonica/KPN tie-up

By  |  May 12, 2014

The European Commission has reportedly extended the deadline to rule on the proposed acquisition of KPN’s German asset E-Plus by Telefonica.

The $11.83 billion buyout, first announced last summer, would see Telefonica-owned O2 acquire E-Plus. But the Commission said it will need until June 26 to rule on the deal as it awaits more information from Telefonica, the largest telecom firm in the EU.

Since regulators first began probing the deal, Telefonica has reportedly offered concessions that unnamed sources say include Wi-Fi hotspot divestitures, among other offers.

Full content: Reuters

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