Vodafone upbeat as EU raises competition concerns over Liberty deal

Vodafone said it remains confidence about getting its €18.4bn deal with Liberty Global past European Union antitrust regulators.

The mobile phone giant has been issued with a statement of objections by the European Commission which catalogues potential competition concerns regarding Vodafone’s bid to acquire Liberty’s cable assets in Germany, Czech Republic, Hungary and Romania.

The statement has not been made public. However, Vodafone said: “We still expect to receive final approval in the middle of this year,” adding that it would review the statement – “an expected part of the review process” – and “continue our constructive dialogue with the regulator”.

It continued: “This is a significant, pan-European transaction that will create a fully-converged national challenger in four European markets, and we remain confident that the Commission will recognise that it will deliver considerable benefits for consumers and competition."

The EU is currently scheduled to rule on the deal by 3 June, although that can be extended. It launched the probe in December.

Separately, Reuters cited sources claiming that the EU had not raised any major concerns about the impact of the sale on the cable market in Germany or on fixed line-mobile convergence in the Czech Republic.

The deal, should it go through, would be one of the most significant pieces of consolidation in the European telecoms industry. It would also be Vodafone’s largest deal since its record £112bn acquisition of Germany’s Mannesmann in 2000.