Cartel court says ‘yes’ to Yesss!

28 Nov 2012

The Austrian cartel court has reportedly approved the proposed acquisition of Orange Austria-owned mobile virtual network operator (MVNO) Yesss! by A1 Telekom Austria. However, the ruling is not yet legally binding and is still subject to appeal by the Austrian Federal Competition Authority and the Federal Cartel Attorney. Further, the takeover of Yesss! remains conditional upon the completion of Hutchison 3G Austria’s proposed EUR1.40 billion (USD1.87 billion) acquisition of Orange which is pending subject to the necessary European Commission (EC) approvals. With regards to the latter transaction, Hutchison Whampoa believes that the latest development bodes well for its own deal. In a statement the Hong Kong firm revealed: ‘Three welcomes the Austrian cartel court’s approval of A1’s acquisition of Yesss! and also expects the EC to approve 3’s takeover of Orange’.

Austria, A1 Telekom Austria, Orange Austria, Yesss!