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EU: Telefonica bargains for KPN merger clearance

By  |  April 11, 2014

Spanish telo giant Telefonica is reportedly offering concessions to secure approval for its acquisition of KPN-owned E-Plus in Germany, say reports.

Telefonica Deutschland struck a deal to acquire its Germany rival in a nearly $12 billion agreement. While the European Commission, which has control of the merger review, said Friday that Telefonica offered concessions to secure approval, the exact nature of those concessions was unclear.

The Commission had denied Germany’s request to review the merger itself earlier this year, a move some experts believe is part of the EU’s efforts to maintain consistency in its review of telco deals as it aims for a single wireless market.

Full Content: Reuters

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