The European Commission (EC) has approved the acquisition of cable TV and internet provider UPC Romania by Vodafone.
This is part of a EUR 18.4 billion transaction between Vodafone Group and U.S. group Liberty Global, through which Vodafone takes over UPC’s assets in Germany, Czech Republic, Hungary and Romania.
Locally, this acquisition will enable Vodafone to challenge more vigorously the dominant positions on both mobile and fix markets, acting as catalyst for innovation and digitization, the company said in a press release. Vodafone Romania will thus be able to offer competitive convergent services to its customers, something that its main competitors are already doing.
The transaction is expected to complete by July 31.
“For Vodafone Romania, this is a major step towards becoming a consolidated, convergent operator, which will be able to offer best in class fixed & mobile communications, internet and TV services,” said Murielle Lorilloux, CEO of Vodafone Romania.
“We are all very excited to welcome UPC into the Vodafone family in the next weeks and we are confident that, together, we will bring greater contributions to the communications and technology sector, placing Romania on an ascending path to digitization,” she added.
The European Commission greenlighted the deal between Vodafone and Liberty Global, but included several clauses that the operators need to fulfill. However, none of these clauses refers to the Romanian market.
Vodafone is the second-biggest mobile carrier in Romania while UPC is one of the top three players on the cable TV and fixed broadband internet segment.
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