By Foo Yun Chee BRUSSELS (Reuters) – Hong Kong-based Hutchison Whampoa got the approval of the European Unions competition authority on Wednesday for its $1 billion bid for Telefonicas Irish mobile business in a case that could set the regulatory tone for Telefonicas bigger pending German merger deal. Approval of the Hutchison takeover and Telefonica Deutschlands $12 billion bid for Dutch firm KPNs German subsidiary E-Plus, could open the way to further consolidation in a sector struggling with its fifth year of declining revenue and the need to upgrade networks for high-speed broadband. Hutchison, controlled by Asias richest man, Li Ka-shing, is strengthening its position in Europe, where it operates in six countries. It already has the fourth-largest mobile network in Ireland with 3 Ireland and is now adding the second-biggest operator O2 Ireland, though it will remain behind market leader Vodafone.
Hutchison wins EU approval for $1 billion O2 Ireland deal
28
May
2014
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