UK regulator seeks to review O2-Virgin deal
October 8, 2020
LONDON (Reuters) – The British competition regulator has asked to review the merger between Liberty Global’s <LBTYA.O> Virgin Media and Telefonica’s O2 <TEF.MC> instead of Brussels because any impact on consumers will be felt in the UK and after Brexit.
The two companies have agreed to merge their British businesses in a $38 billion deal that will pose much stronger competition to market leader BT <BT.L>.
“Ultimately, this is a decision for the European Commission, but as the merger will only impact UK consumers – and any effects would only be felt after the end of the transition period – it is only right for the CMA to request it back,” said Andrea Coscelli, head of the Competition and Markets Authority.
(Reporting by Kate Holton; Editing by Alistair Smout)