Vodafone, Liberty Global Welcome EC's Approval For Merger Of Dutch Operations

(RTTNews) - Vodafone Group Plc (VOD, VOD.L) and Liberty Global plc (LBTYA, LBTYB and LBTYK) welcomed the conditional clearance by the European Commission of the two companies' proposed merger of their operating businesses in the Netherlands to form a 50:50 joint venture.

Following its Phase I investigation, the European Commission concluded that the transaction, as modified by the commitments offered by the parties, does not raise any competition concerns.

The commitments entail a divestment of Vodafone Netherlands' consumer fixed business, prior to closing of the proposed merger of the two companies' Dutch operations. This represents a structural remedy offered by the parties to address any concerns regarding the overlap between the fixed telecoms and TV activities of Vodafone and Ziggo in the Netherlands. Having already received a number of expressions of interest, the parties will now proceed with the sale process.

Vodafone Netherlands' consumer fixed business has a customer base of more than 120,000 with a high triple-play penetration rate. The divestment could potentially also include MVNO access subject to agreement on commercial terms.