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UK competition watchdog slams Three and O2 merger
The UK's competition watchdog has called on the European Commission to block a proposed acquisition of Telefonica UK, which runs O2, by Hutchison Whampoa, the company behind Three UK, unless both companies agree to a series of strong concessions. In a letter, Alex Chisholm, CEO for the Competition and Markets Authority (CMA), says he will only approve if Hutchison Whampoa agrees to sell Three or O2 after the acquisition. Such a move is the only way, he argues, to retain adequate competition in the UK mobile industry. If this isn't possible, Chisholm suggests breaking off one of the networks and facilitating smaller sell-offs. "Absent such structural remedies, the only option available to the Commission is prohibition."
