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Austria: Hutchinson responds to EU concerns over Orange buyout with new offer

 |  October 22, 2012

In response to the European Commission’s concerns over Hutchinson Whampoa Ltd.’s proposed acquisition of Orange Austria, Hutchinson made a new offer of concessions to antitrust regulators, though a spokeswoman for Hutchinson declined to comment on the concessions’ exact content. The proposed deal would have Hutchinson acquire Orange Austria for $1.7 billion. The EC expressed concerns due to the fact the deal would cut customers’ competing options for wireless carriers from four to three companies, but have extended their ruling deadline to December 21.

Full Content: Bloomberg

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