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EU: Hutchinson Whampoa in hot water over O2 buy

 |  January 27, 2014

Sources said the European Commission is likely to send formal objections to Hong Kong’s conglomerate Hutchinson Whampoa over its buyout of Ireland’s O2 wireless operator, according to reports.

The deal was first struck last June for $1.2 billion and is set to merge O2 with Three Ireland, currently already owned by Hutchinson Whampoa. Three stands as Ireland’s third-largest wireless operator.

According to sources, EU officials may issue the statement as early as this week over concerns the deal would harm competition, as it would lower Ireland’s wireless competitors from four to three.

Reports say Hutchinson Whampoa is the largest wireless investor in the EU.

Full Content: Businessweek

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