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Ireland: Probe threatens Hutchinson’s O2 buyout

By  |  November 6, 2013

The proposed acquisition by Hong Kong conglomerate Hutchinson Whampoa of Ireland’s O2 wireless operator is facing a formal investigation by the European Commission, according to a statement released by the regulator.

The Commission said it is concerned that Hutchinson’s buyout of O2, currently owned by Spain’s Telefonica, will combine two leading operators within Ireland’s telco market, currently dominated by four main players.

Hutchinson’s offer to acquire the company for $1.15 billion was first announced last June. In its statement, the Commission said it would decide on the merger by March 24 of next year.

Full content: Bloomberg

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