Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 19.4.2022  
C(2022 ) 2559 final  
PUBLIC VERSION  
Telefónica, S.A.  
Distrito Telefónica, Edificio Central,  
Ronda de la Comunicación s/n  
28050 Madrid  
Spain  
 
Pontegadea Inversiones, S.L.  
Cantón Grande 4  
15003 A Coruña  
Spain  
Subject : Case M. 10679 - TELEFÓNICA / PONTEGADEA / TELXIUS  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 22 March 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Telefónica, 
S.A. (‘Telefónica’, Spain)  and Pontegadea Inversiones, S.L. (‘Pontegadea’, Spain),  
acquire within the meaning of Article 3(1)(b ) and 3(4)  of the Merger Regulation joint 
control over the whole of the undertaking Telxius Telecom, S.A. (‘Telxius’, Spain) , 
currently jointly controlled by Telefonica and Taurus Bidco S.à.r.l ., by way of 
purchase of shares .3  
2. The business activities of the undertakings concerned are:  
 for Telefónica : a global telecommunications company which operates fixed and 
mobile telecommunications networks. Telefónica offers mobile, landline, internet 
and television services under a number of brands, including Movist ar, O2 and 
Vivo;  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 142, 30.03.2022 , p. 18-19. 

2  for Pontegadea : active mainly in the textile sector and in real estate investments;  
 for Telxius: operates an international network of high -capacity submarine fiber 
optic cables, provides direct connectivity to the internet and offers a ran ge of 
capacity services on its network, such as point to point connections with 
dedicated bandwidth . 
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (b) of the Commission  Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agre ement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .