EU antitrust body OKs Vodafone's German cable deal

Published on NewsOK Modified: September 20, 2013 at 9:34 am •  Published: September 20, 2013
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BRUSSELS (AP) — The European Union's antitrust watchdog has cleared a 7.7 billion-euro ($10 billion) takeover of Germany's biggest cable operator by British telecoms firm Vodafone PLC.

The European Commission, the 28-nation bloc's executive arm, said on Friday its investigation found the two companies' businesses were mainly complementary and there was no risk they might gain price-setting dominance in their markets.

Kabel Deutschland Holding AG has an extensive cable network in Germany that the London-based cellphone giant could use to expand its fixed-line, broadband and television business in the country.

U.S. mobile operator Verizon Communications Inc. is buying back a 45 percent stake currently held by Vodafone in a spectacular $130 billion buyout deal that will leave the British company awash with cash to strengthen its European business units.