| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/16/1704 (11.05.16) |
| Publication Date | 11/05/2016 |
| Content Type | News |
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On 11 May 2016, the European Commission blocked the proposed acquisition of O2 by Hutchison under the EU Merger Regulation. It had strong concerns that UK mobile customers would have had less choice and paid higher prices as a result of the takeover, and that the deal would have harmed innovation in the mobile sector. In response CK Hutchison said it was considering a legal challenge to the decision. The UK's communications regulator Ofcom had lobbied against allowing the merger arguing that allowing the number of players in the market to fall from four to three would inevitably lead to higher prices, poorer service or both. |
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| Source Link | Link to Main Source http://europa.eu/rapid/press-release_IP-16-1704_en.htm |
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| Subject Categories | Business and Industry, Internal Markets |
| Countries / Regions | Europe |
