3 Min Read
LONDON/MADRID (Reuters) - Britain’s competition regulator cleared a $44 billion merger between broadband company Virgin Media and Telefonica’s UK mobile network O2 on Thursday, after a months-long review.
FILE PHOTO: A man walks past an O2 phone store in Manchester, Britain March 7, 2016. REUTERS/Phil Noble
Virgin owner Liberty Global and Spain’s Telefonica, who agreed a year ago to forge a broadband and mobile powerhouse to challenge market leader BT, hailed the decision as “a watershed moment in the history of telecommunications in the UK”.
“We are reassured that competition amongst mobile communications providers will remain strong and it is therefore unlikely that the merger would lead to higher prices or lower quality services,” Martin Coleman of Britain’s Competition and Markets Authority (CMA) said.
MADRID (dpa-AFX) - Spanish telecom major Telefonica SA (TDE.L, TEF) reported that its first-quarter profit attributable to equity holders of the parent company climbed to 886 million euros or 0.15
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.
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.