9 Sep 2005
The European Commission’s competition authority has cleared Tele2’s proposed buy-out of the Netherlands-based telco Versatel. The Commission said that the deal will “not significantly impede effective communication in the European Economic Area or any substantial part of it”. Tele2 has offered EUR2.20 per share for Versatel, which has operations in the Netherlands, Belgium and Germany, before selling on the German division to Apax Partners. Per Brogklint, head of Tele2 in the Netherlands, told Dow Jones yesterday that his company will not increase its offer, despite complaints from Versatel shareholders that the price is too low, with shares currently trading at EUR2.22.