Telefónica Deutschland said in a statement that it has received the European Commission’s (EU) final clearance for the acquisition of the E-Plus Group from the Dutch telecommunication group KPN. The company added that upon signing a corresponding contract with Drillisch, the EU has now confirmed compliance with the upfront conditions associated with the approval of the transaction.
As part of the merger proposal, Telefónica Deutschland has agreed to sell upfront 20 percent of its mobile network capacity using a Mobile Bitstream Access model, with the opportunity to extend up to an additional 10 percent.
The company remains confident in closing the acquisition during the third quarter of 2014.
“With the final clearance of the European Commission now granted, we are able to close the transaction soon, and create a leading digital telecommunication company in Germany. By combining the strengths of both Telefónica Deutschland and E- Plus, the new company is well positioned to challenge the market with even more innovative products and services, combined with a great customer experience.”
– Markus Haas, CSO of Telefónica Deutschland. Rachel Empey, CFO of Telefónica Deutschland