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EU Raises Concerns Over Spanish Orange, MasMovil Spanish Deal

By  |  March 8, 2023

Orange and MasMovil’s $19 billion Spanish telecoms merger has been met with a full-scale EU antitrust investigation, according to three people familiar with the matter. This is seen as a test of whether European regulators will consider relaxing their view on deals within this sector.

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    The merger between Spain’s second and fourth largest telecoms companies is the first significant transaction since the European Commission prohibited CK Hutchison’s $12.6 billion acquisition of Telefonica’s O2 mobile unit in Britain in 2016.

    It comes as the Commission’s industry chief Thierry Breton urges a regulatory rethink on cross-border telecoms deals.

    Related: EU Regulators To Decide On Orange’s MasMovil Bid Next Month

    The EU competition enforcer said its preliminary investigation was ongoing. Orange declined to comment.

    The Commission will open a so-called in-depth probe following the end of its preliminary review on April 3, the people said, adding that MasMovil would likely have to offer remedies to secure the green light.