EU rejects UK's call to review Hutchison-O2 merger
EU regulators have rejected a request by the UK’s competition authority to investigate Hutchison Whampoa’s £10.3 billion bid to acquire O2.
In October 2015, the UK Competition and Markets Authority (CMA) submitted a request to assess the merger, stating it was more qualified than the EU regulator to probe into Hutchison’s bid to merge with O2.
"The Commission concluded that, given its extensive experience in assessing cases in this sector, it was better placed to deal with the transaction and ensure consistency in the application of merger control rules in the mobile telecommunications sectors across the European Economic Area," said the Commission.
The Commission added that it has recently carried out merger investigations within the industry in Ireland, Germany, Spain, Denmark and the Netherlands.
The regulatory body will continue its investigation into the planned deal and has until April 18, 2016 to make a final decision.