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Ireland: Hutchison willing to bend for successful O2 acquisition

 |  February 27, 2014

Hong Kong-based Hutchison Whampoa is reportedly willing to bend in favor of competition regulators to secure a successful acquisition of O2 Ireland, according to a source.

Hutchison’s Three Ireland is looking to acquire its rival, owned by Telefonica, for $1 billion, but the European Commission is reportedly concerned of how the deal would harm wireless market competition.

Now, said a source, Hutchison is willing to divest spectrum and extend its current network sharing deal with a competitor to appease concerns.

Reports say Hutchison’s willingness to compromise suggests EU regulators are holding a tight grip over the telco industry. The Commission is reportedly concerned that Hutchison’s acquisition, which will reduce the number of competitors from four to three, will spike prices for consumers.

The Commission first launched its merger review into the deal more than three months ago.

Full Content: Reuters

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