Hutchison has filed its proposed takeover of O2 Ireland with the European Commission for antitrust clearance.
According to the website of the regulator the filing was made yesterday, and a phase I decision is due by 6 November.
O2 Ireland parent…
Hutchison has filed its proposed takeover of O2 Ireland with the European Commission for antitrust clearance.
According to the website of the regulator the filing was made yesterday, and a phase I decision is due by 6 November.
O2 Ireland parent Telefonica had put the company up for sale earlier in the year. In June Hutchison, which operates under the Three brand in Ireland, agreed to acquire the asset for €850m.
Hutchison said at the time this would take its market share to 37.5%. It will also reduce the number of competitors in the market from four to three – a reduction that antitrust regulators have been concerned about in the past.
In 2012, Hutchison had acquired Orange Austria from France Telecom, which resulted in a similar reduction to three competitors in the country.
The European Commission cleared the Austrian merger after a months-long review and subject to hefty remedies.
At the end of phase I the EC could clear the takeover of O2 Ireland or open a phase II investigation, which would give the agency an additional 90 working days to assess the transaction.
Hutchison said in late June it expects to close the deal in six to nine months.
