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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.

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

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