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COMMISSION APPROVES SWISSCOM AND VT B TAKEOVER OF AUSTRIA'S UTA

Vereinigte Telekom sterreich Beteiligungs GmbH, (VJ B) and Swisscom Telekommunikation Holding GmbH (Swisscom Holding) were given the go-ahead by European Commission on July 14 to take joint control of Austria's UTA Telekom AG. The joint venture will operate in data communication via terrestrial lines, voice telephony and leased lines in Austria. UTA is currently controlled by the nine regional energy utility companies via the holding company VT B. UTA is a fixed telephony provider with a licence to offer voice telephony services and leased lines. Swisscom-Holding is a wholly-owned subsidiary of Swisscom and, as a mere holding company, is not active in any market. UTA is expected to face competition from other competitors entering the rapidly growing telecom market, such as Telering, Verbund or Citykom, and does not create or strengthen a dominant position, the Commission said when clearing the deal under the EU Merger Regulation.

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Publication:European Report
Date:Jul 15, 1998
Words:146
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