EC approves Telefónica sale

January 17, 2014 10.44 Europe/London By Chris Dziadul

telefonica_campusThe European Commission has given the green light to the acquisition of Telefónica’s assets in the Czech Republic by the PPF Group.

According to E15, the latter now wants to complete the deal by the end of this month.

The sale of a 65.9% in the Czech incumbent, along with Telefónica’s Slovak subsidiary, was first announced last November.

PPF Group, which is based in the Netherlands, is now expected to make a bid for the stakes in Telefónica held by minority shareholders in this quarter.