EU antitrust body OKs Vodafone's German cable deal

Sep 20, 2013

The European Union's antitrust watchdog has cleared a 7.7 billion-euro ($10 billion) takeover of Germany's biggest cable operator by British telecoms firm Vodafone PLC.

The European Commission, the 28-nation bloc's executive arm, said on Friday its investigation found the two companies' businesses were mainly complementary and there was no risk they might gain price-setting dominance in their markets.

Kabel Deutschland Holding AG has an extensive cable network in Germany that the London-based cellphone giant could use to expand its fixed-line, broadband and in the country.

U.S. Verizon Communications Inc. is buying back a 45 percent stake currently held by Vodafone in a spectacular $130 billion buyout deal that will leave the British company awash with cash to strengthen its European business units.

Explore further: Vodafone says 'fantastic' Verizon deal will strengthen strategy

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Vodafone launches bid for Kabel Deutschland

Jun 24, 2013

Britain's Vodafone PLC has launched a takeover bid for Germany's biggest cable operator, Kabel Deutschland, as part of its push to dominate media services in its biggest market.

Verizon reclaims US wireless stake for $130B

Sep 02, 2013

Verizon will own its wireless business outright after agreeing Monday to pay $130 billion for the 45 percent stake in Verizon Wireless owned by British cellphone carrier Vodafone.

EU OKs $2.7bn Siemens takeover of UK rail firm

Apr 18, 2013

The European Union's antitrust body has cleared a 1.74 billion pound ($2.7 billion) takeover of a British rail technology company by German industrial conglomerate Siemens.

Recommended for you

Microsoft unveils Xbox in China as it faces probe

17 minutes ago

Microsoft on Wednesday unveiled its Xbox game console in China, the first to enter the market after an official ban 14 years ago, even as it faces a Chinese government probe over business practices.

Teens love vacation selfies; adults, not so much

57 minutes ago

(AP)—Jacquie Whitt's trip to the Galapagos with a group of teenagers was memorable not just for the scenery and wildlife, but also for the way the kids preserved their memories. It was, said Whitt, a "selfie ...

Tiny UAVs and hummingbirds are put to test

1 hour ago

Hummingbirds in nature exhibit expert engineering skills, the only birds capable of sustained hovering. A team from the US, British Columbia, and the Netherlands have completed tests to learn more about the ...

US spy agency patents car seat for kids

4 hours ago

Electronic eavesdropping is the National Security Agency's forte, but it seems it also has a special interest in children's car seats, Foreign Policy magazine reported Wednesday.

User comments : 0