The European Telecoms Commissioner, Viviane Reding, also wants to reduce so-called termination charges - the cost of transferringcalls from one network to another.
The plan, which is supported by Morgans's board, calls for transferring to Yucaipa the Delano South Beach hotel and the company's Light Group food and beverage subsidiary.
The legislation calls as well for transferring licensing for telecommunication services from the federal government to a newly-created Federal Institute of Telecommunications.