CK Hutchison promise to extend coverage in the UK. European Commission are currently investigating whether to approve the acquisition or not.
Europe's major antitrust regulator has opened an "in-depth investigation" on Hutchison's $14 billion acquisition of Telefonica UK's O2 operations. According to The Wall Street Journal, top European Union officials have been warning that mobile-phone mergers in concentrated markets can lead to higher prices and less options for consumers.
Spain's Telefonica (TEF.MC) said it had finalised a deal to sell its British mobile business O2 to Li Ka-shing's Hutchison Whampoa (0013.HK) for 10.25 billion pounds ($15.2 billion), confirming details announced earlier this year.
Hutchison Whampoa Ltd (0013.HK) is expected to finalize a deal to buy Telefonica SA's (TEF.MC) British mobile unit O2 for 10.5 billion pounds ($15.70 billion) as early as Tuesday morning, the Financial Times reported.
Hutchison Whampoa (0013.HK), owner of Britain's fourth-largest mobile operator Three, is in talks with Telefonica (TEF.MC) about buying its O2 network, the Sunday Times reported, citing unnamed city sources.
Cupertino, US-based electronics giant Apple started selling the 8GB version of iPhone 5C in Apple stores in the UK at £40 less than the original cost to make up for the low sales of the said device.
Two more operators join the 4G race in Britain as it jumps into the superfast mobile top division.
Vodafone would start providing a 4G mobile services for its customers in London this month.
Subscribe to VCpost newsletter
Most Popular
- American Millionaire Charged in Brutal Murders of Canadian Tycoon and His Partner in Dominica Denied Bail
- SSDI Payment April 2024: Who Will Receive Social Security Benefits Today?
- Where's My Child Tax Credit 2024: When to Receive My Money After April 15 Tax Filing Deadline?
- Tesla Spends $200,000 in Promoting Elon Musk's Social Media Platform X Following Mention of 'Minimal Advertising Efforts'
- Michigan Family Sues Wendy's for $20 Million After 11-Year-Old Girl Suffered Deadly E.Coli Infection
- Brazilian Woman Wheels Her Dead Uncle Into the Bank to Withdraw Loan in His Name
- Social Security Benefits: 2025 COLA Predicted to Increase Amid Rising Inflation
- Sheetz Convenience Store Accused of Racial Discrimination After Denying Employment of Black, Mixed-Race, and Native American Applicants