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Vodafone wins EU approval for 7.7 bln euro Kabel Deutschland takeover
September 20, 2013 / 2:22 PM / 4 years ago

Vodafone wins EU approval for 7.7 bln euro Kabel Deutschland takeover

BRUSSELS, Sept 20 (Reuters) - Vodafone secured unconditional EU regulatory approval on Friday for its 7.7 billion euro ($10.43 billion) acquisition of Germany’s largest cable company, Kabel Deutschland.

British group Vodafone - the world’s second-largest telecoms operator - announced the deal in June, which will help the company to fend off rivals in its most important market.

The European Commission said the deal did not raise concerns as it would not appreciably alter competition in the markets where the companies are currently active.

“The Commission’s investigation confirmed that the activities of the merging parties were mainly complementary,” the EU’s executive said in a statement.

“While Kabel Deutschland primarily offers cable TV, fixed line telephony and Internet access services, Vodafone’s core business consists of mobile telephony services,” it added.

$1 = 0.7384 euros Reporting by Foo Yun Chee, Editing by Martin Santa

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