A PYMNTS Company

Spain/Germany: Sources say EU to win jurisdiction battle in Telefonica, KPN deal

By  |  December 12, 2013

Three unnamed sources told reporters that the European Commission will launch an in-depth investigation into Spain’s Telefonica and it proposed $11.9 billion buyout of KPN’s German operations.

The investigation means the Commission will overrule Germany’s request to examine the deal itself.

Reports say the Commission is concerned the buyout will reduce mobile competitors in Germany down from four to three. The merger was first announced last July.

Full Content: Reuters

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