Telefonica: EU refers Liberty Global deal to UK CMA
(CercleFinance.com) - The European Commission said that it has referred the planned merger of Telefonica and Liberty Global's operations in the UK to the Consumers and Market Authority (CMA), at its request.
The Spanish phone giant and cable company Liberty Global announced in May that they would merge their UK businesses as part of a 50/50 joint venture.
The combination of Virgin Media and O2 is set to create an integrated communications provider with over 46 million video, broadband and mobile subscribers and 11 billion pounds in revenues.
While Telefonica and Liberty Global notified the proposed transaction to the Commission, the CMA requested that the EU refer the assessment of the deal to it, Brussels said.
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