Telefonica Deutschland gets final EU clearance for E-Plus deal

BERLIN Fri Aug 29, 2014 10:21am EDT

BERLIN Aug 29 (Reuters) - Telefonica Deutschland has received final clearance from the European Commission to buy the German business of Dutch peer KPN to create Germany's largest telecoms operator in terms of customers.

Telefonica Deutschland had in June agreed a deal with small rival Drillisch, which was expected to pave the way for regulatory clearance for the 8.6 billion euro ($11.3 billion) takeover of the unit, which operates under the E-Plus brand.

The new combination will have a market share of roughly 30 percent and Telefonica is hoping it will give it more clout in its battle with Vodafone and Deutsche Telekom .

Telefonica Deutschland said on Friday it expected the deal will be closed in the third quarter of 2014.

($1 = 0.7587 euro) (Reporting by Victoria Bryan; Editing by Maria Sheahan)