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By Robert-Jan Bartunek and Harro Ten Wolde BRUSSELS/FRANKFURT (Reuters) – European regulators have cleared Telefonicas bid to consolidate the German mobile market by buying smaller rival KPNs E-Plus for 8.6 billion euros ($11.7 billion), raising prospects of more deals to come across Europes telecoms markets. The European Unions powerful antitrust chief Joaquin Almunia said on Wednesday that Telefonica agreed to concessions – including selling some radio spectrum and renting out capacity on its network to smaller rivals – to ensure that the deal does not lead to higher prices for customers. The remedies are similar to those agreed by Hutchison Whampoa in May when its 3 Ireland subsidiary won approval to buy the Spanish group Telefonicas O2 Ireland for about $1 billion. We have to take a close look at the remedies but this seems to be a blueprint for other potential deals in Europe, said analyst Adrian Pehl at Equinet Bank.