EU regulators to decide on Vodafone, Ono deal by July 2

BRUSSELS Mon May 26, 2014 6:47am EDT

Employees work at an Ono shop in Leganes, near Madrid, March 17, 2014. REUTERS/Paul Hanna

Employees work at an Ono shop in Leganes, near Madrid, March 17, 2014.

Credit: Reuters/Paul Hanna

Related Topics

BRUSSELS (Reuters) - European Union antitrust regulators will decide by July 2 whether to approve British telecoms group Vodafone's (VOD.L) 7.2-billion-euro ($9.81 billion) bid for Spanish cable operator Ono, the European Commission said on Monday.

Vodafone unveiled the proposed takeover in March to reinforce it against market leader Telefonica (TEF.MC). The deal, Vodafone's third acquisition of a European fixed and broadband asset in two years, could trigger more consolidation in the industry.

The EU competition authority could clear the deal, demand concessions or open a lengthy investigation if it has concerns about the impact on consumers and rivals.

($1 = 0.7336 Euros)

(Reporting by Foo Yun Chee; editing by Adrian Croft)

FILED UNDER: