04/12/2012 (Agence Europe) - Mergers: Kutxabank-TCP Cable-International Cable/Euskaltel. On Tuesday 4 December, the European Commission cleared the acquisition by TCP Cable, International Cable Holdings and Kutxabank of joint control of Euskaltel, of Spain. Euskaltel is a telecommunication operator, which is mainly active in the Basque Country. Kutxabank is a Spanish savings bank, which currently solely controls Euskaltel. TPC Cable and International Cable Holdings are both based in Luxembourg and are ultimately owned by private equity funds. The Commission considered that the concentration does not lead to any horizontal overlap or vertical relations in the various telecommunication markets where Euskaltel operates and/or to any anti-competitive spill-over effect between the activities of Euskaltel's new parent companies. The Commission therefore concluded that the concentration does not raise competition concerns. The operation was examined under the ordinary merger review procedure. (FG/transl.fl)