European regulators approve a merger, but the deal's structure reveals new competition rules.

European regulators have approved a merger between TPG, Vitality, and Softbank. This decision means that the companies involved can combine their operations, but it also signals a shift in how competition is assessed for future deals.

This decision is a data point in the EU's ongoing effort to update its competition rules for the digital age. Regulators are trying to figure out how to assess mergers involving tech companies where the value isn't always clear from traditional metrics like revenue or market share. This case shows they are looking at the potential for data control and network effects as key factors, which could make future tech mergers harder to get approved if they concentrate too much data power.