German’s competition authorities have cleared the way for UK mobile phone operator Vodafone to takeover Kabel Deutschland (KDG) – leaving just the European Commission to rule on the deal.
Germany’s Federal Cartel Office head Andreas Mundt told Frankfurter Allgemeine Zeitung: “Following a preliminary examination on our part, we’ve assessed that it’s more of a complementary tie-up.”
But Mr Mundt said that the size of the deal for KDG, Germany’s leading cable operator, would require a ruling from the European Commission’s competition watchdog.
Vodafone launched a €7.7 billion cash offer for KDG in June. But the purchase price, including assumption of debt, adds up to €11 billion, brings the merger within the EC’s jurisdiction.
KDG provides TV, telephony and broadband services to around 8.5 million connected households in Germany.