12/11/2018, 9:40 PM (Source: TeleTrader)
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EU launches antitrust probe of Vodafone-Liberty Global deal

European Commissioner for Competition Margrethe Vestager announced on Tuesday that an antitrust investigation into the multibillion-dollar purchase of Liberty Global plc's assets in Central and Eastern Europe by the United Kingdom-based telecom provider Vodafone Group plc.

"Our in-depth investigation aims to ensure that Vodafone’s acquisition of Liberty Global’s telecommunications businesses in [the Czech Republic], Germany, Hungary and Romania will not lead to higher prices, less choice and reduced innovation in telecoms and TV services for consumers," Vestager said. The deadline for the probe to complete is May next year.

In May this year, Vodafone reached a deal to buy cable assets in the Czech Republic, Germany, Hungary and Romania from Liberty Global for €18.4 billion and became the largest provider of broadband Internet services on the whole continent.

Baha Breaking News (BBN) / NI