Vodafone Group PLC (VOD.LN) confirmed Friday it is selling its Netherlands’ consumer fixed business to T-Mobile Netherlands as part of its commitment to the European Commission to get clearance to merge its Dutch operations with John Malone’s Liberty Global.
The sale, for an undisclosed sum, is conditional on approval from the Dutch competition authority, the European Commission approving T-Mobile Netherlands Holding BV as a suitable purchaser of Vodafone Thuis, and consultations with works councils, Vodafone said.
If approved, the deal is expected to close December.
In February, Vodafone and Liberty Global announced plans to combine their businesses in the Netherlands, a joint venture valued at roughly 3.5 billion euros ($3.89 billion), based on combined revenue and capital expenditure after integration costs.
Source: Market Watch