Europe approves Telefonica O2 acquisition

Jan 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

Explore further: Tiny UAVs and hummingbirds are put to test

add to favorites email to friend print save as pdf

Related Stories

Microsoft unveils Xbox in China as it faces probe

9 hours 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.

Recommended for you

US spy agency patents car seat for kids

13 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.

Students' autonomous robot project could be a lifesaver

15 hours ago

The building is on fire but the firefighters are unsure about what's fueling it or how hazardous the situation is. They place a robot at the entrance and program in a rudimentary set of directions using a ...

Country Web domains can't be seized: regulator

16 hours ago

The Internet's regulatory authority said Wednesday that country-specific Web domains cannot be seized in court proceedings, as it sought to quash an effort to recover assets in terrorism-related lawsuits.

User comments : 0