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EU & UK In Brexit Fight Over Virgin-O2 £31B Merger

 |  October 8, 2020

Britain’s deals watchdog stated that it’s “only right” that it gets to review a tie-up between Liberty Global and Telefonica in the nation, setting up a regulatory tussle with the European Union as the UK and EU leaders clash over their future relationship, reported Bloomberg.

The Competition and Markets Authority (CMA) asked the European Commission to transfer a probe into Liberty Global’s plan to merge its Virgin Media unit with Telefonica’s O2 in the UK. The EU’s competition regulator, which normally clings on tightly to investigations of telecom deals, acknowledged the request, pushing back its deadline to rule on the deal until November 19

“As the merger will only impact U.K. consumers — and any effects would only be felt after the end of the transition period — it is only right for the CMA to request it back,” CMA Chief Executive Officer Andrea Coscelli wrote in an emailed statement on Thursday, October 8.

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