Will Vodafone (VOD) Stock Gain From EU Concessions Over Liberty Global Deal?
NEW YORK (TheStreet) -- Vodafone (VOD) - Get Report and Liberty Global (LBTYA) have offered concessions in a bid to win European Union antitrust approval for their planned merger, Reuters reports.
The deal would help the telecommunications companies better compete with rival KPN (KKPNY).
The two companies made their offer yesterday, according to a filing on the European Commission website. No further details were provided.
Telecom companies typically offer to divest infrastructure assets to competitors in order to reduce competition concerns, Reuters noted.
The EU antitrust authority is slated to decide on the deal by August 3.
It is expected to weigh feedback from competitors and other interested parties before deciding whether to accept the offer or ask for more concessions, Reuters added.
Shares of Vodafone are down 0.68% to $30.69 and Liberty Global stock is declining 0.03% to $30.59 on Wednesday afternoon.