Asian-News.net is your go-to online destination for comprehensive coverage of major news across Asia. From politics and business to culture and technology, we bring you the latest updates, deep analyses, and critical insights from every corner of the continent. Featuring exclusive interviews, high-quality photos, and engaging videos, we keep you informed on the breaking news and significant events shaping Asia. Stay connected with us to get a 24/7 update on the most important stories and trends. Our daily updates ensure that you never miss a beat on the happenings in Asia's diverse nations. Whether it's a political shift in China, economic development in India, technological advancements in Japan, or cultural events in Southeast Asia, Asian-News.net has it covered. Dive into the world of Asian news with us and stay ahead in understanding this dynamic and vibrant region.

Contacts

  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

UK regulator refers Vodafone's merger with Three for in-depth competition probe

The U.K. competition regulator on Thursday referred the proposed merger between Vodafone and CK Hutchison's Three mobile network to an in-depth investigation.

The Competition and Markets Authority said, with the information that it currently has, the deal may "be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom."

In late March, the CMA gave Vodafone and CK Hutchison five working days to come up with "meaningful solutions" to the regulator's concerns or face an in-depth investigation.

The CMA has given itself a deadline of Sept. 18 to complete the in-depth probe, also known as a phase 2 investigation.

The CMA has previously said the deal could lead to customers facing higher prices and reduced quality, a lessening of competition in the U.K. mobile market. Regulators have argued the transaction could also result in so-called mobile virtual network operators, which rely on Vodafone and Three's infrastructure, not being able to negotiate good deals for their own users.

The regulator's process hinges on a decision on whether the deal will lead to a "substantial lessening of competition" (SLC) in the market. The CMA can clear the transaction in the absence of SLC or request remedies from the companies to address its concerns.

Announced last year, Vodafone and CK Hutchison's transaction would merge the two brands' U.K. businesses, giving Vodafone a 51% controlling stake and leaving CK Hutchison with the minority interest. 

The combination of Vodafone's U.K. business and Three UK will reduce the number of mobile operators in the country to just three, following major consolidation in the telecommunications sector in the past few years.

Vodafone and Three said in a joint

Read more on cnbc.com