U.S. cable company Liberty Global (LBTYA.O) has offered concessions in a bid to secure European Union antitrust approval for its 1.33 billion euro ($1.5 billion) offer for KPN's Belgian mobile operator, the European Commission said on Tuesday.
Liberty Global, Europe's top cable operator and backed by U.S. tycoon John Malone, submitted its proposal on Monday, according to a filing on the EU competition authority's website. It did not provide details in line with its policy.
The Commission will now decide by Oct. 5, instead of Sept. 21, whether to clear the deal or open an extensive investigation.
Last week, European Competition Commissioner Margrethe Vestager signaled a tougher approach towards telecoms mergers by scuppering a plan by TeliaSonera (TLSN.ST) and Telenor (TEL.OL) to combine forces in Denmark after they failed to provide sufficient concessions.
Analysts say the Liberty Global deal could reduce competition in Belgium as it would create a player similar in size to rival Mobistar, majority owned by Orange
source: Reuters
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