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Hong Kong: E.U. approves for Hutchinson’s $1.69 buyout of Orange Austria

 |  December 12, 2012

The European Commission has approved for Hong Kong’s Hutchinson 3G to buy France Telecom’s Orange Austria for $1.69 billion. The approval came after the Hong Kong company agreed to sell radio spectrum as well as offer its network to new competitors in the mobile telecom market. According to reports, the approval is a “relief” to those in the sector who were concerned that mergers in the market would not easily be approved as they reduce the number of competing firms.

Full Content: Reuters

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