A PYMNTS Company

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

 |  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.

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

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

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