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Telefonica Deutschland gets final EU clearance for E-Plus deal

Reuters - UK Focus

BERLIN, Aug 29 (Reuters) - Telefonica Deutschland has received final clearance from the European Commission to buy the German business of Dutch peer KPN (Amsterdam: KPN.AS - news) to create Germany's largest telecoms operator in terms of customers.

Telefonica Deutschland had in June agreed a deal with small rival Drillisch, which was expected to pave the way for regulatory clearance for the 8.6 billion euro ($11.3 billion) takeover of the unit, which operates under the E-Plus brand.

The new combination will have a market share of roughly 30 percent and Telefonica is hoping it will give it more clout in its battle with Vodafone and Deutsche Telekom (Xetra: 555750 - news) .

Telefonica Deutschland said on Friday it expected the deal will be closed in the third quarter of 2014.

($1 = 0.7587 euro) (Reporting by Victoria Bryan; Editing by Maria Sheahan)