BRUSSELS (AP) -- The European Union's antitrust watchdog has cleared a 7.7 billion-euro ($10 billion) takeover of Germany's biggest cable operator by British telecoms firm Vodafone PLC.
The European Commission, the 28-nation bloc's executive arm, said on Friday its investigation found the two companies' businesses were mainly complementary and there was no risk they might gain price-setting dominance in their markets.
Kabel Deutschland Holding AG has an extensive cable network in Germany that the London-based cellphone giant could use to expand its fixed-line, broadband and television business in the country.
U.S. mobile operator Verizon Communications Inc. is buying back a 45 percent stake currently held by Vodafone in a spectacular $130 billion buyout deal that will leave the British company awash with cash to strengthen its European business units.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.