The European Commission has approved the €7.2 billion acquisition of the Spanish cable operator Ono by Vodafone.

In a statement, it says that the “transaction would not raise competition concerns, as the parties’ activities are largely complementary: Ono’s main activity is related to fixed telecoms, whereas Vodafone is mainly active in mobile telecoms”.

It adds that although the two companies’ activities overlap in number of markets in the fixed and mobile telecom markets in Spain, “the impact of the transaction on these markets is likely to be limited as the combined entity would continue to face significant competition from other market players, such as the incumbent operator Telefónica, and other operators such as Orange and Jazztel”.

The Commission also says it concluded that “the merged entity will not be able to shut out fixed or mobile operators from the markets for multiple play services, because of the availability of alternative operators and the regulatory obligations in relation to wholesale access on mobile and fixed services.”

Quoting sources, among them at Vodafone Spain, El Economista reports that the transaction will now be finalised within two weeks and the first integrated offers could be launched as soon as later this summer or in early autumn.