LONDON (Reuters) – The planned merger between Vodafone and Hutchison’s UK operations could be subject to further investigation if the two telecoms operators fail to address concerns it raises, the company warned Friday the Competition and Markets Authority (CMA).
This project, worth an estimated $19 billion (€17.56 billion), was announced last year and, if it comes to fruition, will reduce the number of mobile networks in Great Britain from four to three. -Brittany.
The CMA gave the two companies five working days on Friday to respond with “meaningful solutions” to its fears about a possible rise in prices for consumers and businesses and a drop in investment.
“While Vodafone and Three have put forward a number of arguments about how their deal would be good for competition and investment, the CMA has not seen enough evidence to date to support these claims,” a declared the regulatory authority in its press release.
“This evidence warrants further investigation unless Vodafone and Three come forward with solutions.”
(Reporting by Paul Sandle and Sarah Young, editing by Kate Entringer)
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