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EU: CMA wants scrutiny of a £10 billion takeover of O2

By  |  March 5, 2015

British competition regulators are fighting a rearguard action against Brussels in a bid to scrutinise a Hong Kong tycoon‘s £10.25 billion takeover of O2, the UK’s second-biggest mobile phone network, Sky news reported.

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    The CMA is lobbying the Government and European counterparts to argue that the takeover of O2 should be overseen by domestic regulators.

    Under European law, major cross-border deals are scrutinised by Brussels unless at least two-thirds of each party’s business is conducted in the relevant EU member state.

     

    Full Content: Sky News

     

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