Brussels has shut the door on the second European telecoms merger in a year in a landmark ruling that will put at risk tens of billions of euros of similar deals in Europe.
CK Hutchison’s £10.5bn attempt to buy O2, Telefónica’s British mobile operator, was blocked yesterday by Margrethe Vestager, the competition commissioner, who cited “strong concerns” that it would have led to less choice and higher prices for UK consumers.
The decision is the first time Brussels has formally ruled against a telecoms in a major European market, although it comes just months after it forced a similar in Denmark deal to collapse.
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