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Equinix notifies EU of proposed Telecity acquisition

Michele Maatouk

LONDON (ShareCast) - (ShareCast News) - Telecity Group (LSE: TCY.L - news) confirmed on Friday that Equinix Inc (NasdaqGS: EQIX - news) has notified the European Commission of its proposed acquisition of the company for merger control approval. It (Other OTC: ITGL - news) said the initial deadline for the decision has been set at 29 October.

Telecity added that this is consistent with its previously communicated guidance that it expects completion of the acquisition by Equinix in the first half of 2016.

US data centre company Equinix agreed to buy UK rival Telecity in May in a cash and share offer worth £2.35bn that will create the largest data centre business in Europe. Equinix trumped Interxion, which had proposed a $2.5bn all-stock merger in early March.

Telecity runs high-speed data centres for Spotify and Facebook (NasdaqGS: FB - news) .

At 1326 BST, Telecity shares were up 0.5% at 1,111.00p.