The European Commission has blocked Telefonica’s sale of O2 to CK Hutchison, the owner of Three.The planned deal was worth £10.3bn, and would have left the UK with just three major mobile phone network operators.
But Europe’s competition commissioner, said she had strong concerns about the takeover, ruling that it would reduce customer choice and raise prices.
CK Hutchison said they were considering a legal challenge to the decision.
Trending
- Malaysia to resume hunt for Flight MH370, 10 years after it vanished
- King Charles’ cancer treatment progressing well, will continue next year
- UK consumers cautiously shop more after pre-budget slump
- Amazon workers strike at seven US facilities ahead of Christmas rush
- Honda-Nissan merger talks expose existential threat of Chinese EVs to Japan
- UK water bills to rise by 36% to help fix broken sector
- Bank of England to keep rates steady as price pressures linger
- ARGENTINE PRESIDENT DEMANDS PROMPT RELEASE OF OFFICER DETAINED IN VENEZUELA
EU blocks Three’s takeover of O2
© 2024 Loveworld UK.