Vestager expressed “significant competition concerns” over the deal.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The European Commission Wednesday shot down Telefonica's blockbuster sale of British telecom giant O2 to Hong Kong group Hutchison on fears it would inflict higher prices on British consumers.Hutchison is controlled by one of the richest men in Asia, Li Ka-shing, and his buyout of O2 from Spain's Telefonica for 10.25 billion pounds sterling ($15.2 billion) would have created Britain's biggest mobile phone company.Hutchison owns operator Three and hoped to merge the company with O2.Hutchison and Telefonica's O2 in March offered concessions to push through the deal but the EU said these were insufficient.Vestager said the EU worked on a "case-by-case basis" and was not motivated by keeping national markets to any particular size.
FOLLOW THIS ARTICLE