EU antitrust regulators see no issues with Vodafone Hutchison mobile tie-up
Reuters
Published Nov 02, 2023 10:58AM ET
Updated Nov 02, 2023 11:26AM ET
BRUSSELS (Reuters) - Vodafone (NASDAQ:VOD) and CK Hutchison's $19 billion mobile merger in Britain does not pose any competition concerns to EU antitrust regulators, according to a European Commission filing.
The companies sought approval from the EU competition enforcer for their bid to create the UK's biggest mobile operator on Oct. 30.
The Commission, which set a Dec. 6 deadline for its decision, is reviewing the deal under its simplified procedure.
It uses this procedures for mergers which are not likely to raise competition concerns and where clearance is a foregone conclusion.
The deal in contrast faces intense scrutiny from the UK's Competition and Markets Authority because it will reduce the number of networks from four to three, a threshold which regulators worry could reduce competition.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.