Vodafone's $20 Billion-Plus Takeover of Parts of Liberty Global Gets EU Approval With Conditions
European wireless giant Vodafone Group has won conditional European Union approval for its takeover of Liberty Global’s cable assets in Eastern Europe and Germany.
Vodafone said on Thursday that it will become "Europe's leading converged operator, with 116.3 million mobile customers, 24.2 million broadband customers and 22.1 million TV customers across 13 European countries." The transaction is expected to be completed by July 31 and generate cost and capital expenditure synergies worth more than €6 billion after integration costs, in addition to revenue synergies exceeding €1.5 billion "from cross selling to the combined customer base, Vodafone said. "Together with the standalone growth potential of the acquired assets, these synergies support double-digit free cash flow per share accretion from the third year post completion for Vodafone.
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