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EU court backs Hutchison challenge to EU veto on O2 takeover

Published 28/05/2020, 10:32
Updated 28/05/2020, 10:35
© Reuters.

© Reuters.

BRUSSELS (Reuters) - Europe's second-highest court on Thursday backed Hutchison Holdings' (HK:0001) challenge to an EU antitrust decision blocking its 10.3 billion pound ($12.6 billion) bid for British mobile operator O2 UK by Spain's Telefonica (MC:TEF) four years ago.

The European Commission's 2016 ruling said the deal to acquire Britain's biggest mobile telecoms network operator would have resulted in higher British mobile prices because it left only two rival network operators.

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