A PYMNTS Company

UK: Hutchison offers EC concessions on mobile merger deal

By  |  March 2, 2016

CK Hutchison Holdings has offered concessions to address the EU competition regulator’s concerns over its proposed 10.3 billion-pound deal to merge its UK mobile network operator Three with Telefonica’s O2 UK.

Hutchison, owned by Asia’s richest man Li Ka-shing, is keen to get the deal done as it continues its expansion in Europe, with the acquisition of O2 set to make it the UK’s biggest mobile network operator which would compete with just two rival network operators, BT’s newly-acquired EE, and Vodafone.

The company submitted its offer on Wednesday, according to a filing on the European Commission website. The EU competition regulator, which did not provide details, in line with normal policy, extended the deadline for its decision to May 19 from April 22.

Hutchison said the deal would not hurt competition in the UK.

Full Content: ReutersR

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