The European Commission on Wednesday approved Telef�nica SA's �€8.6 billion ($11.7 billion) takeover of Royal KPN NV's German mobile telecom business E-Plus, but attached certain conditions. The commission ordered Telef�nica to sell up to 30% of its network capacity to up to three rivals and to divest a radio-wave spectrum and other certain assets. The merger approval comes after Telef�nica notified the commission about the takeover in October 2013. Shares of Telef�nica were down 0.7%, while Royal KPN climbed 2.8%.

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