CMA Accepting Comments on Vodafone, CK Hutchison Joint Venture
11 October 2023 - 8:54PM
Dow Jones News
By Anthony O. Goriainoff
The U.K. Competition and Markets Authority said it was inviting
interested parties to comment on the proposed joint venture between
Vodafone and CK Hutchison Group Telecom Holdings by Nov. 1.
The CMA said Wednesday that it was considering whether the
transaction would create a relevant merger situation, and if so
whether it will substantially lessen competition in the U.K.
In June, Vodafone said that it entered into binding agreements
with Hong-Kong-based CK Hutchison Group Telecom Holdings, in
relation to a combination of Vodafone UK and Three UK, their
telecommunications businesses in the U.K.
Vodafone added then that it will own 51% of the combined
business with CKHGT owning the other 49%, and that the combined
business will invest 11 billion pounds ($13.52 billion) in the
country over 10 years so as to create one of Europe's most advanced
standalone 5G networks.
Vodafone shares at 0913 GMT were up 0.51 pence, or 0.7%, at
77.90 pence.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
October 11, 2023 05:39 ET (09:39 GMT)
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