A PYMNTS Company

Ireland: EU approaches Hutchison/O2 tie-up decision

By  |  May 7, 2014

The European Commission is set to decide next month on the proposed acquisition of O2 Ireland by Hutchison Whampoa, reports say.

The Hong Kong-based firm will learn by June 20 whether it will be allowed to acquire the wireless assets from their current owner Telefonica in a $974 million deal. A ruling on the merger was delayed after the Commission reportedly sought more information regarding the buyout from Hutchison, which operates wireless firm Three in Europe.

Competition concerns were raised because the acquisition would make Three the second-largest wireless operator in Ireland, reducing the number of operator rivals from four to three.

Reports say Hutchison offered last March to divest spectrum and customers to a smaller competitor to win antitrust approval for the acquisition.

Full content: Irish Examiner

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.