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[May 13, 2014]
EC decision on Telefonica, E-Plus deal now due by 26 June [TeleGeography CommsUpdate]
(TeleGeography CommsUpdate Via Acquire Media NewsEdge) The European Commission (EC) has extended the deadline for its decision on Telefonica's proposed acquisition of German mobile operator E-Plus to 26 June, Reuters reports, quoting EC spokesperson Antoine Colombani. Last week the antitrust authority halted its investigation into the EUR8.55 billion (USD11.9 billion) deal, as Telefonica failed to submit the required documents by a deadline of 5 May. 'Since Telefonica supplied the information requested, the clock has restarted on 8 May. The deadline for the Commission to take a decision in this investigation is now 26 June,' Colombani said. Netherlands-based KPN agreed to sell E-Plus to Telefonica in July 2013 and in December the EC opened an in-depth investigation into the transaction, TeleGeography's GlobalComms Database notes. If approved, the combination of Telefonica and E-Plus would reduce the number of network operators from four to three, with the enlarged Telefonica becoming the market leader ahead of Telekom Deutschland and Vodafone Germany.
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