EU blocks Three's takeover of O2

Jessica TranterLast Update : Wednesday 11 May 2016 - 1:11 PM
EU blocks Three's takeover of O2

EU blocks Three’s takeover of O2

O2 logoImage copyright Getty Images

The European Commission has blocked the sale of O2 to Hutchison, the owner of mobile company Three.

The planned deal was worth £10.3bn, and would have left the UK with just three major mobile phone network operators.

But Europe’s competition commissioner, Margrethe Vestager, said she had strong concerns about the takeover.

She said UK mobile customers would have less choice and pay higher prices.

Source: BBC Business

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2016-05-11 2016-05-11
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Jessica Tranter