Telia's $1B Bonnier bid gets full probe from EU regulator

|About: Telia Company AB (publ) (TLSNY)|By:, SA News Editor

Telia's (TLSNY +0.5%) $1B bid to take over Bonnier Broadcasting is getting a full probe from the European Commission, over concerns that the deal could hurt rivals in Finland and Sweden.

The move from Sweden's Telia set it to follow in the footsteps of bigger wireless companies, which have been adding content to compete in a shifting telecom/media landscape.

But the EC notes that the acquisition would create a vertically integrated player across Denmark, Finland, Norway and Sweden.

"The in-depth investigation we are opening today aims to ensure that Telia's proposed acquisition of Bonnier Broadcasting will not lead to higher prices for or less choice of TV channels for consumers in Finland and Sweden," says Commissioner Margrethe Vestager.

There's a Sept. 19 deadline to rule on the deal.

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