Royal KPN Succeeds in Appeal Against 2014 Merger of Rival Telecom Firms
26 Ottobre 2017 - 2:02PM
Dow Jones News
By Adam Clark
The European Union's General Court on Thursday ruled in favor of
Royal KPN NV (KPN.AE) in its appeal against the
2014 merger approval between its Dutch telecommunications rivals
UPC and Ziggo, an entity now owned by Liberty Global PLC
(LBTYA).
The court ruled that Royal KPN was correct in its plea that the
European Commission failed to give its reasons for not analyzing
the potential anticompetition effects of the merger. The court has
ordered the European Commission to pay Royal KPN's costs.
The decision means the merger will now have to be cleared again,
despite the fact the merged UPC-Ziggo entity has since been
combined with Vodafone Group PLC's (VOD.LN) operations in the
Netherlands. The ruling was not related to the later merger.
Liberty Global--which owns the VodafoneZiggo entity in a joint
venture with Vodafone--said the decision has no impact on the
day-to-day operations of the telecommunications company and that it
will discuss practical steps with the European Commission over the
coming weeks.
KPN was not immediately available for comment.
Shares in Royal KPN at 1114 GMT were up EUR0.03, or 1.1%, at
EUR3.00.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
October 26, 2017 07:47 ET (11:47 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Grafico Azioni Koninklijke KPN NV (EU:KPN)
Storico
Da Gen 2025 a Feb 2025
Grafico Azioni Koninklijke KPN NV (EU:KPN)
Storico
Da Feb 2024 a Feb 2025
