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LONDON (Alliance News) - Vodafone Group PLC on Wednesday said its proposed joint venture in the Netherlands with Liberty Global PLC had received conditional clearance from the European Commission, after it was found that the deal does not raise competition concerns.
In February, Vodafone and Liberty Global confirmed a tie-up of their operations in the Netherlands to form a new joint venture, which both parties will have a 50% stake in, and offered that Vodafone Netherlands will divest of its consumer fixed business to avoid competition concerns.
On Wednesday, Vodafone said the European Commission conducted a Phase I investigation into the joint venture and found that, if Vodafone Netherlands undertakes the divestment, there are no competition concerns.
As such, the parties will now proceed with the sale process.
Vodafone said its Vodafone Netherlands' consumer fixed business has a customer base of more than 120,000 with a high triple-play penetration rate. The divestment could potentially also include mobile virtual network operator access subject to agreement on commercial terms.
"This represents a structural remedy offered by the parties to address any concerns regarding the overlap between the fixed telecoms and TV activities of Vodafone and Ziggo in the Netherlands," Vodafone reported in its statement.
Both Vodafone and Liberty Global said they welcomed the conditional clearance.
Shares in Vodafone were up 1.1% at 229.35p on Wednesday afternoon.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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