EU stops €13bn merger of telecom firms Three and O2

The EU Commission has blocked CK Hutchison’s proposed acquisition of the UK mobile network O2 from its owner, Telefonica.

Hutchison planned to merge O2 with its own telecoms business Three and had reportedly offered roughly £10.25 billion (€13 billion) for its rival.

Announcing the decision on Wednesday (11 May), EU antitrust commissioner Margrethe Vestager said the move would have weakened competition, risked driving up consumer prices and reduced incentives to invest in technol...