The European Union will approve the acquisition of Tele2’s Dutch unit by Deutsche Telekom without conditions, Reuters reports.
The European telecoms index spiked higher, with Tele2 shares jumping 9 percent for their best day in more than four months. Deutsche Telekom shares recovered from negative territory to a 1 percent gain.
The telecoms industry has long called on the European Commission to take a broader view of mergers aimed at boosting revenue and investment, as well as allowing it to compete better against internet rivals.
Full Content: Reuters
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