The European Commission announced Wednesday that it will allow top UK wireless operator Vodafone to acquire Spain’s leading cable firm Ono in a $9.79 million deal.
In a statement, the Commission said it has approved of the deal without concessions. The news confirmed earlier reports that the transaction would gain unconditional clearance.
Reports say Vodafone is looking to compete against main Spanish rival Telefonica.
The deal will also boost Vodafone’s position to upgrade infrastructure amid falling revenue. This is the UK company’s third EU fixed-broadband buyout in two years, according to reports.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.