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The European Commission approves the merger between Tele2 and T-mobile in the Netherlands. Deutsche Telekom pays Tele2 nearly 2 billion Swedish kroner for the transaction.
The European Commission approves the merger which has been the subject of an investigation for five years. Stock Photography.
"I am very pleased that the Commission has approved the uncompromising merger in the Netherlands and we are now looking forward to joining T-mobile in order to create a strong customer base that will stimulate competition and investment in the Dutch market." said Anders Nilsson. , President and Chief Executive Officer of Tele2, in a press release.
With the merger, Tele2 will hold 25% of the absorbing company and will receive a cash payment of approximately 190 million euros when the transaction is finalized in early January 2019.
Already on Monday it had been announced that the deal was finalized and that the Tele2 stock was trading on the Stockholm Stock Exchange after being rushed to nine percent.
Five years ago, the European Commission opened an investigation into the effects of such activity when it was considered likely to change the competitive situation in the Dutch market and lead to an increase in price.
"Our survey shows that the merger project does not significantly change the prices and quality of mobile services for Dutch consumers," said EU Commissioner for Competition Margrethe Vestager.
Deutsche Telekom, owner of T-mobile, said that only 25% of the market would be held, far behind KPN and VodafoneZiggo.
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