EU blocks Three’s takeover of O2


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.