Telefonica, E-Plus to submit antitrust proposal next month, report says

21 Oct 2013

German mobile operators Telefonica Deutschland and E-Plus are expected to submit documents to the European Commission seeking approval for the former’s acquisition of the latter by mid-November, people familiar with the matter told The Wall Street Journal Deutschland. The sources said that E-Plus, which is owned by Dutch telecoms group Royal KPN, and Spanish-owned Telefonica Deutschland are finalising their antitrust proposal and are also in regular contact with Germany’s national regulatory authorities. Earlier this month KPN shareholders approved the sale of its German mobile unit at an extraordinary general meeting, CommsUpdate reported. Following completion of the transaction, which was announced in July, KPN will receive EUR5.0 billion (USD6.8 billion) in cash and a 20.5% stake in the enlarged mobile operator. The merger of Germany’s third and fourth largest mobile network operators by subscribers will create a stronger competitor to larger players Telekom Deutschland and Vodafone Germany.

Germany, E-Plus Group, KPN, Telefonica, Telefonica Deutschland Holding