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EC clears 3 takeover of O2 Ireland with concessions
2014-05-28 13:39:00| Telecompaper Headlines
(Telecompaper) The European Commission has approved Hutchison Whampoa's acquisition of O2 Ireland, reducing the Irish mobile market to three network operators. Hutchison, which operates the 3 network in Ireland, agreed to provide network capacity to at least two MVNOs in the near term, as well as give them the option to acquire up to five blocks of spectrum from 2016. In addition, it will maintain O2's network roaming agreement with Eircom, including access to LTE. The concessions address the EC's concerns about reduced competition on the market and the high barriers to entry for any new players on the relatively small Irish market. The merger of O2 and 3 Ireland, the second and fourth largest players on the market, was first announced in June 2013. Hutchison will pay Telefonica EUR 850 million for O2. The company said the deal will give it the strength to challenge Vodafone for the number one position on the market.
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Category:Telecommunications
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