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EU regulators to decide on Vodafone, Ono deal by July 2
May 26, 2014 / 10:51 AM / 4 years ago

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

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.

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

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

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