Orange: takeover of TKR approved by EU on conditions

(CercleFinance.com) - The European Commission yesterday announced that it has cleared the acquisition of Telekom Romania Communications (TKR) by Orange, under EU Merger Regulations.


The authorisation is subject to the sale of TKR's minority stake (30%) in Telekom Romania Mobile Communications (TRMC), one of Orange's direct competitors.

At the end of its investigation, the Commission concluded that the transaction, as initially notified, would have caused serious competition problems in the market for the retail supply of mobile telecommunications services.


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