EU blocks mega sale of Britain's O2 to Hutchison

GMT 10:50 2016 Wednesday ,11 May

Arab Today, arab today EU blocks mega sale of Britain's O2 to Hutchison

Brussels - Arab Today

The European Commission on Wednesday shot down Telefonica's blockbuster sale of British telecom giant O2 to Hong Kong group Hutchison on fears it would inflict higher prices on British consumers.

"The Commission has blocked the proposed acquisition of O2 by Hutchison under the EU Merger Regulation," the Commision, the EU's anti-trust regulator, said in a statement.

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