BUSINESS BUSINESS COMPANIES ECONOMY

The European Commission approves the transaction between Vodafone Group and Liberty Global

Vodafone Romania welcomes the European Commission’s approval of Vodafone’s acquisition of UPC’s local businesses. This is part of a EUR 18.4 billion transaction between Vodafone Group and Liberty Global, through which Vodafone Group takes over UPC’s assets in Germany, Czech Republic, Hungary and Romania.

Locally, this acquisition will enable Vodafone to challenge more vigorously the dominant positions on both mobile and fix markets, acting as catalyst for innovation and digitization. The transaction is expected to complete by 31 July. Vodafone Romania will be able to offer competitive convergent services to its customers, which will enable the company to fulfill its vision of bringing technology and innovation closer to everyone. The acquisition of UPC will also create sustainable and effective competition within the local telecommunications industry, leading to an increased digitization of the Romanian society.

Murielle Lorilloux, CEO of Vodafone Romania: “We have received wonderful news today! For Vodafone Romania, this is a major step towards becoming a consolidated, convergent operator, which will be able to offer best in class fixed & mobile communications, internet and TV services. I would like to give a big ‘Thank you!’ to my wonderful team, who puts passion and purpose in everything they do. We are all very excited to welcome UPC into the Vodafone family in the next weeks and we are confident that, together, we will bring greater contributions to the communications and technology sector, placing Romania on an ascending path to digitization. From now on, together with the people from UPC, we will pursue our goal to be the operator of choice for all Romanian customers.”

Mihnea Rădulescu, CEO of UPC Romania: “This is an important moment in the history of our company, as we will be joining a very strong European operator following the European Commission approval. We have continuously strived to innovate and bring best quality services for our customers, with the entire UPC Romania team’s contribution. I am very proud of our ambitious and talented UPC team achieving outstanding results and making this transaction possible. After completion of the transaction, joining Vodafone and UPC operations will bring significant benefits to all customers and the entire telecommunications industry, by accelerating innovation and competitiveness. We are looking forward to working together with Vodafone and uniting our forces to create a strong and reliable telecommunications company.”

The deal makes Vodafone Group an European technology communications champion, owning the leading next-generation network and being able to contribute to the Commission’s Digital Single Market Strategy of creating a gigabit society across Europe by 2025.

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