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Germany: Shareholders clear path for nation’s largest wireless co

 |  October 2, 2013

Shareholders of Royal KPN voted Tuesday in approval of the $11.6 billion merger of its Germany-based operations to Telefonica SA, a move that will create Germany’s largest wireless company.

KPN’s German unit, E-Plus, will be sold to Telefonica Deutschland Holding.

The deal has yet to receive antitrust clearance, however, and wireless carriers throughout Europe will be looking to how watchdogs handle the German merger. Should the deal earn relatively easy approval, some say the pan-EU market could experience an “earthquake” of consolidation.

In a statement, KPN CEO Eelco Blok said he expects regulatory approval to occur in mid-2014.

Full Content: Bloomberg

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