LONDON (Alliance News) – UK critical communications firm Sepura PLC on Monday said it anticipates German competition authorities will open a phase 2 investigation of its proposed takeover by Chinese radio transceivers and radio systems maker Hytera Communications Corp.
Sepura said it and Hytera believe it likely the German competition authority, the Bundeskartellamt, will open a phase 2 investigation into the proposed takeover. How long this would take remains unclear at present, but Sepura noted the statutory period for this process is three months.
Sepura added it has made a filing regarding the deal with the Spanish competition authority, a decision from which it expected on or before March 9.
Shareholders in Sepura approved the GBP74.0 million takeover, agreed in December, last week, and Sepura said it anticipated completion by mid-March. On Monday, it said it will provide a further update on the timing for the antitrust approval in due course.
By Sam Unsted; email@example.com; @SamUAtAlliance
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