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EU: Hutchinson Whampoa could spark EU probe for $1B Telefonica buy

 |  October 23, 2013

Telecommunications giant Hutchinson Whampoa could end up the subject of an investigation by the European Commission for its $1 billion buyout of Telefonica’s Irish operations, sources said Wednesday.

The company, based in Hong Kong, has been told it must offer concessions to the Commission for the buyout of Telefonica’s O2 Ireland unit or risk an investigation into the matter.

The deal was first announced last June. EU authorities are currently in the midst of a preliminary review.

Reports say regulators’ largest concern is the reduction of major Ireland wireless players from four to three as a result of the deal.

The company reportedly has until November 6 to offer concessions to quell such competition concerns.

Full content: Reuters

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