The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Westenergie Breitband GmbH by E.ON SE, both of Germany, and First Sentier Investors Group (‘FSI’) of Australia.
Westenergie Breitband, which is currently solely controlled by E.ON, builds and operates glass fibre optic broadband networks in Germany. E.ON is an international energy and utility company. FSI is a global asset management company ultimately controlled by Mitsubishi UFL Financial Group (‘MUFG’), a global asset management group and banking services provider.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the lack of horizontal overlaps or vertical links between the activities of Westenergie Breitband and MUFG.
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