Mergers and Acquistions News
Categories: Telecoms
June 30th 2009, 14:56PM
The acquisition of Tiscali UK by Carphone Warehouse has been given the green light by the European Commission, paving the way for the creation of the biggest residential broadband provider in the UK.
Following an acquisition deal valued at £236 million, the combined firm will have 4.25 million subscribers and will control 25 per cent of the residential market.
It was decided that the activities of the two firms overlap horizontally in retail and wholesale internet access provision.
In a statement, the Commission said: "The Commission's examination of the proposed transaction showed that none of the above markets would give rise to competition concerns.
"The new entity will continue to face competition from a number of strong players, especially BT."
Competition from other technologies, including mobile broadband, is also growing according to the Commission's findings.
Earlier in the year, communications regulator Ofcom cleared the way for companies and organisations to invest in super-fast broadband services for homes and businesses in the UK.
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