EU: Commission sets deadline for UK, Spain telco deal

The European Commission announced it will decide by July 2 on whether to allow UK-based telco giant Vodafone’s nearly $10 billion acquisition of Spain’s Ono.

The regulator reportedly announced Monday that it has set the deadline. Vodafone first announced plans for the acquisition, worth $9.81 billion, last March as it looks to strengthen its position against Spain’s top rival Telefonica.

According to reports, the acquisition would mark Vodafone’s third takeover of a EU broadband and fixed line company in two years. The transaction has the potential to spark yet another round of telco consolidation, reports added.

Full content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.