Briefs: Euros clear France Telecom-Amena deal

October 24, 2005

France Telecom's planned acquisition of Spanish mobile operator Amena was approved by the European Commission Monday.

The EC said in a statement that the commissioners did not find any indication that competition in the European market would be significantly harmed by the $8 million deal.

The proposal would give France Telecom 80 percent of Amena and make the French company the second-largest mobile operator on the continent.

France Telecom operates in much of Europe, but not in Spain. Amena, on the other hand, is only in the Spanish market.

The EC said, "There are no horizontal overlaps between the activities of the parties in their respective countries.

"Furthermore, the transaction does not raise any substantial vertical competition concerns in the markets for wholesale international roaming and fixed and mobile telecommunications."

Copyright 2005 by United Press International

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