BRUSSELS, (Pakistan Point News - APP - 3rd August, 2016) - The EU on Wednesday cleared a tie-up between British mobile phone giant Vodafone and US media tycoon John Malone's Liberty Global cable group in the Netherlands, subject to the sale of some assets. "The decision is conditional on Vodafone divesting its consumer fixed line business in the Netherlands," the European Commission said in a statement. The Commission, the European Union's executive arm, said it had been concerned that the deal would reduce competition in the Dutch market but the Vodafone sale "fully addresses" this issue.
EU Competition Commissioner Margrethe Vestager said telecoms were "of strategic importance for our digital society." "I am pleased that we have been able to approve the creation of the joint venture ... the commitments offered by Vodafone ensure that Dutch consumers will continue to enjoy competitive prices and good choice," Vestager said in a statement. Separately, Vodafone and Liberty Global welcomed the EU decision and said they would now proceed with the sale process for the consumer telecoms business.