The European Comission authorized this Tuesday the acquisition of joint control of Pangeacothe wholesale company optical fiber of Peru, by the American fund KKR and the Spanish Telefónica, after both companies notified Brussels last September.
“The Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area and that the companies do not operate in the same market or in vertically related markets,” said the community Executive in a statement.
Pangeaco is a company incorporated in Peru to operate and deploy a fiber network infrastructure for the provision of wholesale telecommunications services in the Andean country.
As explained by the Commission, the transaction refers to the telecommunications services sector, and added that the operation has been examined according to the simplified merger review procedure.
Source: Gestion
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