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
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