Three's takeover of O2 blocked by Brussels on competition concerns

European competition commissioner Margrethe Vestager said the takeover would probably have increased prices and reduced choice

The European commission has blocked Three’s £10.25bn takeover of O2 on competition grounds more than a year after the deal to form Britain’s biggest mobile phone operator was announced.

Margrethe Vestager, the European commissioner for competition, announced the decision at a news conference on Wednesday, just over a week before the 19 May deadline. She said the takeover would probably have increased prices and reduced choice for consumers by placing too much power in one mobile operator.

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from Mergers and acquisitions | The Guardian http://ift.tt/1X0ptHl