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Germany: Cartel office approves Deutsche Wohnen $15 billion hostile buy

 |  December 7, 2015

Germany’s cartel office has approved property company Vonovia’s planned 14 billion-euro hostile bid for smaller peer Deutsche Wohnen, it said on Monday.

Vonovia is Germany’s biggest residential property company and Deutsche Wohnen is the second, together owning about half of the million apartments held by listed landlords.

“In all regions, however, private landlords, communal housing associations, housing cooperatives and other providers are so strongly represented that it was not to be expected that Vonovia would acquire market dominance or a reduction in competition as defined by the cartel office,” the watchdog said in a statement.

Full content: Reuters

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