US cable company Liberty Global has offered concessions in a bid to secure European Union competition approval for its €1.33 billion offer for KPN's Belgian mobile operator, the European Commission said today.
Liberty Global is Europe's top cable operator and is backed by US tycoon John Malone.
It submitted its proposal yesterday, according to a filing on the EU competition authority's website. It did not provide details in line with its policy.
The Commission will now decide by October 5, instead of September 21, whether to clear the deal or open an extensive investigation.
Last week, European Competition Commissioner Margrethe Vestager signaled a tougher approach towards telecoms mergers by scuppering a plan by TeliaSonera and Telenor to combine forces in Denmark after they failed to provide sufficient concessions.
Analysts say the Liberty Global deal could reduce competition in Belgium as it would create a player similar in size to rival Mobistar, majority owned by Orange, and behind market leader Proximus.
Liberty Global's UPC Ireland announced in July that it is to buy broadcaster TV3 in a deal worth up to €87m.
UPC will pay an initial €80m for TV3 and its sister channel 3e, with an additional €7m set to be paid if the station hits certain performance targets.
