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EC approves Vodafone's EUR 7.2 bln takeover of Ono
2014-07-03 09:00:00| Telecompaper Headlines
(Telecompaper) The European Commission has approved Vodafone's EUR 7.2 billion takeover of Spanish cable provider Ono without conditions. The deal, which Vodafone said will now be closed "within two to three weeks", represents the UK operator's third acquisition of a European fixed-broadband asset in two years and gives it immediate access to Ono's extensive fibre network covering 7.2 million Spanish homes. It also serves to increase Vodafone's 25 percent share of the Spanish mobile market by almost two percentage points. In approving the takeover, the Commission concluded that the transaction "would not significantly impede effective competition in Spain." Although the two companies provide fixed and mobile services in Spain, the EC said their activities were largely complementary given that Ono specialises in fixed telecoms, while Vodafone is mainly active in mobile telecoms. "However, the Commission found that the impact of the transaction on these markets is likely to be limited as the combined entity would continue to face significant competition from other market players, such as the incumbent operator Telefonica, and other operators such as Orange and Jazztel," it said.
Pakistan approves 4,250MW coal based private power projects
2014-07-03 01:00:00| Power Technology
The Private Power and Infrastructure Board (PPIB) of Pakistan has given the go-ahead for the processing of various coal-based power projects, which have a combined generation capacity of 4,250MW.
Tags: based
power
private
projects
World Bank approves additional $400m financing for Turkish gas project
2014-07-03 01:00:00| Hydrocarbons Technology
The World Bank has approved an additional financing of $400m to the existing Gas Sector Development Project of Turkey.
Tags: world
additional
project
bank
EC approves Telefonica takeover of E-Plus
2014-07-02 11:48:00| Telecompaper Headlines
(Telecompaper) The European Commission has approved Telefonica's takeover of German mobile operator E-Plus from KPN. The merger of E-Plus with Telefonica's O2 will reduce the German market to three mobile networks from four and is expected to help O2 compete better with market leaders Telekom Deutschland and Vodafone. To secure approval for the takeover, Telefonica committed to reserve up to 30 percent of its network capacity for MVNOs. It earlier announced an agreement to provide the network capacity to Drillisch. Telefonica will also be required to divest spectrum to a new player on the market and maintain all its existing wholesale contracts. The takeover of E-Plus was first announced almost a year ago and will see KPN receive EUR 5 billion cash and a 20.5 percent stake in the merged company. The Dutch operator is exiting the German market in order to focus more on its home market. Telefonica will hold 62.1 percent in the German subsidiary, while the remainder is listed on the stock market.
Tags: approves
takeover
telefonica
eplus
KrisEnergy approves Wassana oil development in Gulf of Thailand
2014-07-01 01:00:00| Offshore Technology
KrisEnergy will go ahead with its Wassana oil development in Thailand after approving a final investment decision for the project.
Tags: development
oil
thailand
gulf
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