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Pin to quick picksVodafone Share News (VOD)

Share Price Information for Vodafone (VOD)

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Share Price: 69.76
Bid: 69.86
Ask: 69.88
Change: 0.34 (0.49%)
Spread: 0.02 (0.029%)
Open: 69.54
High: 70.34
Low: 69.54
Prev. Close: 69.42
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EXCLUSIVE-Liberty Global, Vodafone to win EU approval for Dutch tie-up - sources

Fri, 29th Jul 2016 16:52

(Adds European Commission, Vodafone decline comment, LibertyGlobal comments)

By Foo Yun Chee

BRUSSELS, July 29 (Reuters) - U.S. cable group LibertyGlobal and UK telecoms firm Vodafone are setto win EU antitrust approval for their plan to merge their Dutchoperations after offering minor concessions, two people familiarwith the matter said on Friday.

The companies, which want to bulk up to better compete withthe Netherlands' former telecoms monopoly KPN, offeredconcessions on July 12 but did not provide details.

The telecoms industry has seen a wave of consolidation inrecent years as companies scale up to boost investments and takeon bigger peers.

However, a tougher regulatory approach by EuropeanCompetition Commissioner Margrethe Vestager since herappointment in November 2014, and demands for major concessionsin return for her approval of merger deals, has worried thesector.

The merged company will be the second-largest telecomscompany in the Netherlands. Liberty's Ziggo is the largest cableTV operator in the country, while Vodafone is the second-biggestmobile network operator.

The European Commission and Vodafone declined to comment.The EU competition authority is scheduled to decide on the dealby Aug. 3.

"We do not comment on speculation. We are in constructivedialogue with the European Commission and are confident ofclearance in due course," a Liberty spokesman said.

Vodafone will pay 1 billion euros ($1.1 billion) to U.S.billionaire John Malone's group to equalize their stakes in themerged company.

($1 = 0.8959 euros) (Additional reporting by Kate Holton in London; Editing byJulia Fioretti and Mark Potter)

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