A PYMNTS Company

EU: CMA wants scrutiny of a £10 billion takeover of O2

By  |  March 5, 2015

British competition regulators are fighting a rearguard action against Brussels in a bid to scrutinise a Hong Kong tycoon‘s £10.25 billion takeover of O2, the UK’s second-biggest mobile phone network, Sky news reported.

The CMA is lobbying the Government and European counterparts to argue that the takeover of O2 should be overseen by domestic regulators.

Under European law, major cross-border deals are scrutinised by Brussels unless at least two-thirds of each party’s business is conducted in the relevant EU member state.

 

Full Content: Sky News

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.