December 13 (SeeNews) - The European Commission said that it has opened an in-depth investigation to assess Vodafone's proposed acquisition of US-based TV and broadband company Liberty Global's business in four European countries, including Romania.
The 18.4 billion euro ($20.9 billion) deal was announced by Liberty Global in May.
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"Our in-depth investigation aims to ensure that Vodafone's acquisition of Liberty Global's telecommunications businesses in Czechia, Germany, Hungary and Romania will not lead to higher prices, less choice and reduced innovation in telecoms and TV services for consumers," Margrethe Vestager, commissioner in charge of competition policy, said in a statement earlier this week.
In Romania, Vodafone is mainly active as a mobile network operator, while Liberty Global operates as a fixed telecommunications operator, through its unit UPC Romania.
Liberty Global's subsidiary UPC Europe bought Romania's Astral Telecom for $420 million in 2005 and renamed the company to UPC Romania.
UPC Romania had 2.08 million subscribers at the end of September, up 6.5% on the year. The company's revenue in the third quarter of 2018 grew 4% year-on-year to 164.2 million lei.
Liberty Global has operations in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. After completion of the transaction, Liberty Global will continue to operate in the United Kingdom, Ireland, Belgium, Switzerland, Poland and Slovakia.
Vodafone telecom group has mobile operations in 26 countries, partners with mobile networks in 49 more, and has fixed broadband operations in 17 markets.
($ = 0.8789 euro)