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Orange-Masmovil Merger Decision Delayed By Five Days By EU

COMMUNICATIONS


  • The European Commission has delayed its decision on Orange SA's €18.6 billion joint venture with Masmovil in Spain by five days to 22 Feb.
  • We don’t see this as indicative of a refusal being any more likely – BBG notes that such delays are common as remedies are fine-tuned.
  • The Orange curve is 1-2bps wider versus swaps DoD.

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