Europe approves Telefonica O2 acquisition

January 10, 2006

European regulators Tuesday gave their blessing to the $31 billion acquisition of British telecom O2 by Spain's Telefonica.

The European Commission said in Brussels that Telefonica had taken adequate steps to preserve the overall competitiveness of the wireless communications market by separating itself from the FreeMove organization.

FreeMove is an alliance of major European telecoms formed to improve roaming capabilities on the continent through the sale of wholesale roaming. On the other hand, O2 is affiliated with a similar alliance of smaller companies called Starmap.

The commission stated that shifting O2 from Starmap would put too much clout in the hands of FreeMove by removing O2's wholesale capacity from Starmap.

To mollify the commission, Telefonica agreed to withdraw from FreeMove and not re-join without the agency's approval.

Copyright 2006 by United Press International

Related Stories

Recommended for you

Surprisingly, low-toxin MRSA strains may be the real killer

September 3, 2015

The most serious MRSA infections could be those caused by superbugs which produce fewer toxins, as opposed to high toxin strains, according to surprise findings revealed today by scientists from the Department of Biology ...

Customizing 3-D printing

September 3, 2015

The technology behind 3-D printing is growing more and more common, but the ability to create designs for it is not. Any but the simplest designs require expertise with computer-aided design (CAD) applications, and even for ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.