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EU unconditionally clears Tele2's takeover of TDC's Swedish unit
October 7, 2016 / 12:32 PM / in a year

EU unconditionally clears Tele2's takeover of TDC's Swedish unit

BRUSSELS, Oct 7 (Reuters) - The European Commission on Friday cleared Tele2’s 2.9 billion Swedish crowns ($335.34 million) acquisition of Danish group TDC’s Swedish unit without conditions, saying the two company’s operations did not overlap.

“The transaction would raise no competition concerns, in particular because the companies’ activities are largely complementary,” the Commission, the 28-member bloc’s competition watchdog, said in a statement.

In June, when the acquisition was announced, Tele2 said it bought the unit to strengthen its position in the business telecoms market, while TDC sold to reorganise its operations.

$1 = 8.6479 Swedish crowns Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop

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