Under the deal, it will acquire E.and Fully on B.B.F Telekom excluding its domestic business in the Czech Republic.
The matter is significant as it is the first examination of a takeover by the European Commission under a regulation adopted by the bloc that allows the watchdog to take tough action to combat unfair support provided by foreign countries to its companies, according to Reuters.
“The external support to E& did not result in actual or potential adverse effects on competition in the acquisition,” the European Commission said.
“E& was the only bidder to make the acquisition offer and had sufficient resources to execute the acquisition, which reflected the market value of the target, so the foreign support did not change the outcome of the acquisition,” she added.
