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Ireland: Hutchinson Whampoa remains undecided over approach to O2 buyout

 |  October 28, 2013

As mobile operator Three faces threat of a blocked buyout of rival O2, reports say the company is now considering whether to sell O2’s stake in Tesco Mobile to quell competition concerns.

Three, controlled by Hutchinson Whampoa, announced earlier this year plans to acquire Ireland’s O2 for more than $1 billion. As the European Commission reviews the takeover, reports say Three is now looking at options to ensure regulatory clearance of the deal.

Reports say Three will offer a list of possible concessions if required, which would include the sale of the Tesco Mobile stake. While concessions in the deal are not yet necessary, two sources told reporters that the merger will likely face lengthy antitrust scrutiny and will ultimately require concessions if the deal is to clear.

The review is also being probed by Irish competition regulators.

Full content: Independent.ie and Telecompaper

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