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Telefonica Deutschland Holding AG grants network access to Drillisch in view of the E-Plus acquisition


Wednesday, 25 Jun 2014 01:00am EDT 

Telefonica Deutschland Holding AG:Signs agreement with Drillisch, according to which Drillisch agreed to acquire 20 pct of capacity of all mobile networks that will be under control of Telefonica Deutschland following consummation of proposed acquisition of E-Plus Group.Says 20 pct to be reached via glide path mechanism over period of 5 years.In addition, Drillisch shall have right to acquire up to 10 pct additional capacity of those networks.To grant Drillisch access to future joint network of Telefonica Deutschland and E-Plus.Agreement has been entered into with view to pending decision by European Commission in merger control proceeding relating to acquisition of E-Plus by Telefonica Deutschland, expected in near future.Agreement with Drillisch will become effective only if the European Commission conditionally clears acquisition of E-Plus and confirms that agreement with Drillisch complies with conditions and obligations possibly attached to approval of proposed transaction.Says decision by European Commission with respect to merger is expected for July. 

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