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Vodafone shakes up European policy as it commits to Liberty assets

While we are fairly clear that the transaction announced this week for Vodafone to buy key parts of Liberty Global in Europe will go through, but to do so it means it has to avoid the scrutiny of the Bundeskartellamt, the German competition regulator. That means the deal must be presided over by the European Commission, and not the Bundeskartellamt, usually referred to as the Cartel Office. And that will ruffle some traditional German feathers. We firmly believe, as does Mike Fries, CEO of Liberty Global, that this is a deal where the regulators have already ironed out the “kind of terms” that would be acceptable – we can predict them here, but essentially some control over any exclusive content…

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