BRUSSELS, July 2 (Reuters) - European Union antitrust regulators cleared on Wednesday Telefonica’s 8.6-billion-euro ($11.73 billion) bid for KPN’s German unit, after the Spanish telecoms provider agreed to sell network capacity and radiowave spectrum.
The European Commission said Telefonica agreed to sell up to 30 percent of the merged company’s network capacity and would also divest radio wave spectrum and other assets to allow for the entry of new competitors in Germany.
The Commission, which acts as the competition watchdog in the 28-member bloc, said the remedies should allow for the entry of up to 3 “virtual” operators, which rent wholesale capacity from network operators to offer their services.
“The remedies to which Telefonica commits ensure that the acquisition of E-Plus will not harm competition in the German telecoms markets,” European Competition Commissioner Joaquin Almunia said in a statement. (Reporting by Robert-Jan Bartunek, editing by Robin Emmott)