European Union: Issued EU Commission ruling approving the acquisition of Lumen's businesses by Colt

On 10 August 2023, the European Commission approved Colt's acquisition of certain businesses and assets owned by Lumen. This acquisition includes various Lumen companies based in Austria, Belgium, Denmark, the UK, the US, and the Netherlands. These businesses primarily operate in the telecommunications infrastructure and enterprise services sector across Europe, the Middle East, and Africa. Colt, a UK-based company, offers network services in sectors requiring substantial network infrastructure and voice services in Asia, Europe, India, and the US. The Commission found no competition concerns with this acquisition, as the combined market position of the companies remains limited, and there are vertical relationships between the activities resulting from the transaction. The approval was granted through a simplified merger review process.