Brussels, 24 February 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Gigapower, LLC by BlackRock, Inc. and AT&T Inc., all of the US.
Gigapower, currently controlled by AT&T, is a joint venture that will engineer, construct, own and operate wholesale access to fiber networks in the US. BlackRock manages investments, among others, in the digital, transport, energy and power infrastructure value chain. AT&T is a provider of communications and technology services.
The Commission concluded that the proposed acquisition would raise no competition concerns, given that Gigapower will not have any activities within the European Economic Area. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M. 11042.
Source – EU Commission