UK opens antitrust probe into Vodafone merger with CK Hutchison's Three mobile network
Publishing timestamp: 2024-01-26 06:31:11
Summary
The UK competition watchdog, the Competition and Markets Authority (CMA), is opening an investigation into the proposed merger between Vodafone and Three UK mobile network owned by CK Hutchison. The initial probe will determine if the deal will lead to a substantial lessening of competition. If so, the CMA can continue with a more in-depth investigation. The merger would give Vodafone ownership of 51% of the combined business, with CK Hutchison holding a minority stake. The CMA has 40 working days to assess the deal before deciding on the next steps. Vodafone and Three UK defended the deal, stating that it would enhance competition and allow for more investment in infrastructure.
Sentiment: NEUTRAL
Keywords: business news, mergers and acquisitions, ck hutchison holdings ltd, vodafone group plc, breaking news: technology, breaking news: europe,
Source: https://www.cnbc.com/2024/01/26/vodafone-and-three-uk-merger-under-investigation-by-cma.html