John Malone’s Liberty Global subsidiary Telenet is close to receiving European Union regulatory approval of its planned $1.4 billion purchase of Belgian wireless carrier Base Co. NV, according to reports.
Liberty first announced its intention to purchase Base in April. Base is the third largest wireless carrier in Belgium and is the first purchase of wireless assets in the country for Telenet, which had concentrated on MVNO agreements previously.
According to a Reuters report, Telenet has agreed to sell customers from its JIM Mobile brand and its 50% stake in Mobile Viking to rival wireless carrier Medialaan. The idea is to help the fledgling carrier become a more established MVNO carrier using Base’s network. The European Commission is expected to brief national competition authorities on the deal Jan. 21 and is expected to approive the deal ahead of its official March 17 deadline, Reuters added.
For the full story go to Multichannel.com.
