Telekom Austria receives court approval for Yesss! acquisition

Telekom Austria receives court approval for Yesss! acquisition

Telekom Austria’s proposed takeover of Orange Austria’s discount mobile brand Yesss! has been unconditionally approved by the country’s Cartel Court.

The carrier first announced the acquisition agreement in February to acquire spectrum, base station sites, the Yesss! operations and intellectual property rights owned by Orange Austria for €390 million.

Telekom Austria said that the court ruling was not yet legally binding and is subject to appeal by the Austrian Federal Competition authority and the Federal Cartel Attorney within four weeks.

If any appeal did emerge it would suspend the closing of the acquisition.

In addition, Telekom Austria’s acquisition of Yesss! is still dependent on the completion of Hutchison 3G Austria’s €1.3 billion acquisition of Orange Austria.

The deal is subject to merger control approval by the European Commission (EC) with a deadline for the decision on December 21. Local reports in Austria suggest the EC is ready to approve the deal.

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