Jurisdiction(s):
United Kingdom

Key definition

Subsidiary definition

What does Subsidiary mean? In legal practice, a subsidiary is a company controlled by another company (its holding company), usually through voting power or the ability to appoint a majority of directors. The term is used in corporate and finance documents to delineate group companies, guarantees, covenants and reporting obligations. In the UK, Companies Act 2006, section 1159, defines subsidiary. A company is a subsidiary if another company: holds a majority of its voting rights; or, being a member, can appoint or remove a majority of its directors; or, being a member, controls a majority of its voting rights by agreement. Two of these tests...

EU merger control: Telefónica Deutschland/E‑Plus—clearance with remedies (2014); SO for alleged breach of wholesale 4G commitments; investigation closed without action (2021)

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED

This archived hub reflects the position at the date the investigation was closed on 12 March 2021; it is not maintained. See further: timeline, commentary and related cases.

Case facts

Outline: European Commission merger investigation into Telefónica Deutschland’s planned acquisition of E‑Plus (Case M.7018). The transaction involves horizontal overlaps in the German mobile telecommunications market, where the parties are two of the four operators.

Latest developments

On 12 March 2021, the Commission ended its probe without taking action.

Parties

Telefónica Deutschland and E‑Plus. Both are mobile network operators (MNOs), supplying mobile telecommunications to end consumers in Germany, as well as in related markets such as the wholesale of network access and call origination. Telefónica Deutschland is a Subsidiary of Telefónica SA, headquartered in Spain. E‑Plus is the German subsidiary of the Dutch operator Koninklijke KPN NV (KPN).

Background

The Commission approved the deal subject to commitments on 2 July 2014. The commitments are in three parts: (1) before completion, sale of up to 30% of the merged company’s network capacity to up to three MVNOs in Germany at fixed...

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Web page updated on 21/05/2026

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