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Ireland/Hong Kong: Commission sets deadline to rule on Telefonica buyout

By  |  November 12, 2013

The European Commission has set a deadline of April 24 of next year to decide whether to clear the proposed buyout of Telefonica Ireland, a deal made for more than $1.3 billion by Hong Kong’s Hutchinson Whampoa.

According to the Commission, the buyout of the former O2 Ireland brand may threaten higher prices for consumers and reduces competition within Ireland.

Most important, however, is whether the merged company would continue to work within a network sharing agreement deal made with Ericom; the Commission said it is concerned about Ericom’s ability to compete in the market following the acquisition.

Full Content: Independent.ie

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