According to an EU Commission filing, regulators will decide by March 20 if they will clear French telecoms provider Orange’s $19 billion bid to buy Spanish telecoms provider MasMovil.
The deal is between Spain’s second and fourth largest telecoms operators, which could trigger more scrutiny by the Commission.
Spain’s mobile market is a four-way fight with Telefonica’s Movistar brand holding a 28.24% share, Orange 22.91%, Vodafone 22.26% and MasMovil with 20.55%, reported Reuters.
Read more: EU To Decide On Orange’s Belgian Deal In April
The merger in Spain is based on an enterprise value of 18.6 billion euros ($19 billion), the companies said in the statement, including 10.9 billion for MasMovil and 7.8 billion for Orange Spain.
The merged entity would generate more than 7.3 billion euros in annual revenue and more than 2.2 billion euros of annual core operating profits, they said.
