The European Commission has cleared the way for Vodafone to complete its €7.7 billion takeover of Kabel Deutschland, Germany’s biggest cable operator.
The EU’s antitrust watchdog concluded that the activities of the merging parties were “mainly complementary”.
In markets where the parties’ activities overlapped – found the commission – the increase in market share resulting from the proposed transaction was “insignificant”.
Moreover, the possibility for the merged entity to offer more attractive triple or quadruple play bundles “may have a pro-competitive dimension,” added the antitrust body.
Vodafone subsequently stated that all conditions of its offer have now been met and expects to formally clinch the deal on 14 October 2013.
Vodafone earlier this week secured a 76.5 per cent stake in Kabel Deutschland, exceeding the 75 per cent threshold it had set itself for the deal to go ahead.
Remaining shareholders in Kabel have until 30 September to tender their shares.