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EU: O2 £10.25bn takeover at the mercy of Brussels

By  |  April 7, 2016

The future of Hutchinson’s takeover of mobile operator O2 is in the hands of Brussels officials after the company made its last plea to competition watchdogs.

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    Hutchinson aims to combine Three and O2 which it acquired for £10.25bn from Telefonica last year, resulting in Britain’s largest mobile operator.

    Ofcom, the UKs telecoms regulator has suggested that in order to protect consumers from increasing costs, four network owners are required. Officials in Europe who have the option to prevent the deal from going forward have suggested that Hutchinson sells a number of its airwaves and mobile masts to allow a new company to enter the market.

    Executives claim that this move is crucial to enable Hutchinson to compete with bigger rivals BT and Vodafone. However they remain unsure of the outcome as Hutchinson has not yet revealed a deal to offload some of its assets.

    European representatives have until 15 May to confirm whether they will allow or prevent Hutchinson’s O2 takeover.

    Full content: The Register

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