The Financial Times reported that the European Commission has approved, under the EU Merger Regulation, the proposed acquisition by Vodafone of Liberty Global’s cable business in Czechia, Germany, Hungary, and Romania. The approval is conditional on full compliance with a commitments package offered by Vodafone.
The European Commission cleared the takeover of Liberty’s German and eastern European cable networks on Thursday, July 18, after Vodafone offered concessions to ease competition concerns.
Commissioner Margrethe Vestager, in charge of competition policy, said, “In our modern society access to affordable and good quality broadband and TV services is almost as asked for as running water. We have today approved Vodafone’s purchase of Liberty Global’s business in Czechia, Germany, Hungary and Romania subject to remedies designed to ensure that customers will continue enjoying fair prices, high-quality services and innovative products.”
Full Content: The Financial Times & European Commission
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