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EU seeks feedback to Hutchison concessions for 02 Ireland buy

21
Mar
2014

EU antitrust regulators are seeking industry feedback over concessions offered by Hutchison Whampoa to secure approval for its $1 billion bid for Telefonicas 02 Ireland, two people familiar with the matter said on Thursday. Hong Kong-based conglomerate Hutchison Whampoa submitted fresh concessions to the European Commission earlier this week after a March 5 proposal failed to satisfy the European Union authority, said one of the people, declining to provide details. The company is prepared to sell radio spectrum and continue a network sharing agreement with rival eircoms subsidiary Meteor, the third-biggest operator in Ireland, a source familiar with the matter told Reuters last month. The deal is a sign of how tough the European Commission will be on telecoms mergers, especially over a bigger deal in Germany where Telefonica Deutschland wants to buy KPNs E-Plus for 8.6 billion euros.

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