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Telefónica Proposes Changes to Secure German Mobile Company

Telefónica, the Spanish telecommunications firm, is offering to lease spectrum and provide network access to its market in order to court favor with European Union officials for its pending $11.59 billion purchase of E-Plus in Germany. This amends its preliminary offer after input from European Commission officials. Regulators are concerned this consolidation will further reduce competition in the German market and have been worried about consolidation throughout the European market. Telefónica says it would lease spectrum above 2 Gigahertz to mobile network operators, which would cover 100 German cities, and would provide access to mobile virtual network operators at wholesale rates. It has also proposed the sale of 10,000 cell sites and 50 retail outlets. Third parties can submit comments through 17 April 2014. A decision is expected by 23 June 2014. Telefónica has not commented on the matter. (Reuters)(Financial Times)

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