EC approves Tele2/Apax/Versatel deal

The European Commission (EC) has given its approval to pan-European telco Tele2’s planned acquisition of Dutch-owned operator Versatel’s entire Benelux operations, as well as the buyout of Versatel’s German business by private equity house Apax. Tele2 and Versatel have confirmed that preparations are at an advanced stage for Tele2 to launch simultaneous public cash offers for all outstanding Versatel shares and convertible notes. The two parties currently expect that the offers will be made in mid-September.