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EC objects to Telefonica's purchase of KPN's German ops

  • The European Commission is unhappy with Telefonica's (TEF) €8.6B ($11.83B) purchase of KPN's (KKPNF) German unit in its current form, Reuters reports.
  • The EC's objections could mean that Telefonica will have to make concessions to gain the regulator's approval.
  • The EC started an inquiry into the deal in December, saying it was concerned that the acquisition would lead to a fall in competition in Germany and to higher prices.
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