Jörn Krieger | 20-09-2013
The EU Commission has approved the takeover of Kabel Deutschland by Vodafone without restrictions.
The merger would not lead to significant negative effects on competition as the companies would complement each other in their main business activities, the Brussels-based competition authority said in a statement.
The UK-based mobile network operator will pay almost €11 billion for Germany's largest cable company. More than 75% of Kabel Deutschland's shareholders have already accepted Vodafone's takeover offer with the remaining shareholders being able to do so by 30 September 2013.
Through the acquisition Vodafone wants to get gain more weight in the competition with Germany's national telco Deutsche Telekom for customers for TV, telephony, Internet and mobile services. The transaction is expected to be closed on 14 October 2014.