Telefonica seeks EC approval for E-Plus deal

5 Nov 2013

Telefonica Deutschland has submitted a proposal to the European Commission (EC) seeking approval for its acquisition of German mobile operator E-Plus, Reuters reports. The EC said it will carry out an initial review of the EUR8.6 billion (USD11.6 billion) deal by 6 December. Last month shareholders of E-Plus’ Dutch parent Royal KPN 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 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