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O2 chief was set to step down if O2 had merged with Three, but operator has confirmed he will stay on following Brussels’ decision
European Commissioner Margethe Vestager expressed “strong concerns” that UK mobile customers would have had less choice and paid higher prices as a result of the deal
The decision by the European Commission follows a year’s worth of negotiations between Three owner CK Hutchison and Brussels
The O2 CEO claims the operator is in “great shape” even if Brussels rejects CK Hutchison’s £10.25 billion takeover bid
Operator, which is subject to a takeover bid from Three, lots 86,000 customers in Q1 but churn remained “market leading” at 0.9pc
European competition watchdogs will not clear CK Hutchison’s £10.25 billion takeover bid despite months of negotiations, Reuters claims
The CMA detailed its opposition to the Three-owner’s £10.25bn takeover of O2 in a letter to European Commissioner Margrethe Vestager
UK regulator has told European Commissioner Margrethe Vestager that either Three or O2 should be sold, or the £10.25 billion deal should be scrapped
Virgin Media has signed 10pc spectrum deal, while Sky has agreed to take 20pc if European regulators approve the £10.25 billion takeover
In a statement accompanying its latest financial results, CK Hutchison said it could sell part of Three UK to a new investor and keep operators separate