EU gives go-ahead to Vodafone's Airtel acquisition

The European Commission said Wednesday it had approved Vodafone's increased stake in Spanish mobile phone operator Airtel Movil SA.

Vodafone last month paid 1.77 billion euros (US$1.53 billion) for a 17.8 percent stake in Airtel, held by rival British Telecommunications PLC (BT). The purchase raised Vodafone's stake in Airtel to almost 92 percent.

"The Commission has found that the transaction would not raise any competition concerns in the Spanish mobile telephony market or in any other related markets," it said in a statement.

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