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EC Sets Nov. 5 Deadline for $38B Liberty / Telefonica Deal

By  |  September 30, 2020

EU antitrust regulators will decide by Novomber 5 whether to clear Liberty Global and Telefonica’s US$38 billion British tie-up to challenge market leader BT, a European Commission filing showed on Wednesday, September 30.

The companies announced the deal in May, which will bring together Britain’s biggest cable TV provider in Liberty’s Virgin Media with Telefonica’s O2, the second-largest mobile operator, reported Reuters.

The EU competition enforcer can either clear the deal with or without conditions during its preliminary review, or it can open a four-month long investigation if it has serious concerns.