European Union antitrust regulators will veto CK Hutchison Holdings’s 10.3-billion-pound bid to become Britain’s biggest mobile operator, two people familiar with the matter said on Monday.
The European Commission will this week seek the green light from national competition agencies for its decision, the people said. Such a move is usually a formality.
Hutchison, controlled by Asia’s richest man Li Ka-shing, had faced an uphill battle getting EU clearance for its proposed buy of Telefonica’s UK mobile unit O2.
A package of concessions designed to boost smaller rivals failed to address Commission concerns that the deal may result in higher prices for consumers and less competition in Britain, the people said.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI