2 Min Read
LONDON (Reuters) -Britain’s competition watchdog said on Wednesday it had provisionally cleared the 31.4 billion pound ($43.3 billion) merger between broadband company Virgin Media and Telefonica’s UK mobile network O2.
FILE PHOTO: A man walks past an O2 phone store in Manchester, Britain March 7, 2016. REUTERS/Phil Noble
The Competition and Markets Authority (CMA), addressing one of its primary concerns, said that its investigation had concluded the deal was unlikely to result in a substantial reduction of competition in the supply of wholesale mobile services.
“A thorough analysis of the evidence gathered. has shown that the deal is unlikely to lead to higher prices or a reduced quality of mobile services – meaning customers should continue to benefit from strong competition,” said Martin Coleman, CMA Panel Inquiry Chair.
UPDATE 1-UK s competition watchdog clears O2 and Virgin Media tie-up Reuters 2 hrs ago
LONDON, April 14 (Reuters) - Britain s competition watchdog said on Wednesday it has provisionally cleared a merger between broadband company Virgin Media and Telefonica s UK mobile network O2 after an investigation into the $38 billion deal s potential impact.
The Competition and Markets Authority said that its investigation had focused on whether the deal was likely to result in a substantial reduction of competition in the supply of wholesale mobile services and concluded this was unlikely. A thorough analysis of the evidence gathered during our phase 2 investigation has shown that the deal is unlikely to lead to higher prices or a reduced quality of mobile services – meaning customers should continue to benefit from strong competition, said Martin Coleman, CMA Panel Inquiry Chair.
UK competition watchdog clears O2 and Virgin Media deal
Updated / Wednesday, 14 Apr 2021
11:23
A merger between broadband company Virgin Media and Telefonica s UK mobile network O2 has been provisionally cleared
The UK competition watchdog said today it had provisionally cleared the £31.4 billion merger between broadband company Virgin Media and Telefonica s UK mobile network O2.
The Competition and Markets Authority said its investigation had concluded the deal was unlikely to result in a substantial reduction of competition in the supply of wholesale mobile services. A thorough analysis of the evidence gathered. has shown that the deal is unlikely to lead to higher prices or a reduced quality of mobile services - meaning customers should continue to benefit from strong competition, said Martin Coleman, CMA Panel Inquiry Chair.
By Reuters Staff
2 Min Read
FILE PHOTO: A man walks past an O2 phone store in Manchester, Britain March 7, 2016. REUTERS/Phil Noble
LONDON (Reuters) -Britain’s competition watchdog said on Wednesday it has provisionally cleared a merger between broadband company Virgin Media and Telefonica’s UK mobile network O2 after an investigation into the $38 billion deal’s potential impact.
The Competition and Markets Authority said that its investigation had focused on whether the deal was likely to result in a substantial reduction of competition in the supply of wholesale mobile services and concluded this was unlikely.
“A thorough analysis of the evidence gathered during our phase 2 investigation has shown that the deal is unlikely to lead to higher prices or a reduced quality of mobile services – meaning customers should continue to benefit from strong competition,” said Martin Coleman, CMA Panel Inquiry Chair.
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