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EC greenlights Telenet acquisition of BASE
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The European Commission has approved Telenet’s buyout of Belgian mobile operator BASE Company.
The Liberty Global-owned cable operator said that the acquisition of BASE Company is now scheduled to be legally closed in “the coming days”.
Belgian operator Telenet agreed to buy domestic mobile player BASE for €1.325 billion last April.
Telenet said at the time that the definitive agreement will provide it with long-term mobile access to “effectively compete for future growth opportunities in the mobile market.”
The EC gave approval following Telenet’s agreement to sell BASE’s 50% stake in its Mobile Vikings brand and a number of BASE’s JIM Mobile unit’s customers to media group Medialaan, which will enter the market as a new MVNO.
The EC said these remedies would adequately compensate the loss of competition resulting from the acquisition of BASE by Telenet, which previously offered its own mobile services.
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