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Germany: Telefonica pushes for successful E-Plus buyout

 |  November 4, 2013

According to the European Commission, Spain’s Telefonica has sent a formal request to the European Commission for the regulator to approve Telefonica’s Germany unit to acquire Royal KPN’s E-Plus.

Telefonica Deutschland is Germany’s fourth-largest wireless company, but the merger would lead to the nation’s largest operator.

According to reports, the acquisition values E-Plus at about $11.6 billion.

The filing with European authorities means Germany has 15 days to request permission from the EU to rule on the deal itself, but the Commission has already indicated it would like to evaluate the merger.

An initial review is set to close by December 6 by EU authorities.

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