A PYMNTS Company

EU: Brussels sends objections to Hutchison’s $14 billion Telefónica deal

By  |  February 7, 2016

The European Union has sent CK Hutchison HoldingsLtd. a statement setting out its objections over the company’s planned $14 billion takeover of Telefonica SA’s British cellphone operator O2, according to people familiar with the matter, on concerns the deal could lead to higher prices and less choice for UK consumers.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The European Commission, the bloc’s top antitrust regulator, has said the sale of O2 to Hong Kong tycoon Li Ka-shing’s conglomerate Hutchison would create the largest mobile-network operator in the U.K., potentially removing an important competitor.

    The commission opened a full-blown investigation into the telecoms deal in October.

    O2 is Britain’s second-largest mobile operator, and Hutchison already owns the fourth-largest operator, Three UK.

    Full content: The Wall Street Journal

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.