POST Online Media Lite Edition


Commission refers Telefonica Liberty Global joint venture to UK competition authority

Christian Fernsby |
The European Commission has referred the proposed acquisition by Telefónica and Liberty Global of a newly created joint venture to the Consumers and Market Authority (“CMA”) of the UK, at its request.

Article continues below

The proposed joint venture will combine Telefónica's UK Limited business (“O2”) and Liberty Global's Virgin Media business (“Virgin Media”).

Both companies are active in the telecommunications sector in the UK.

The evidence gathered by the Commission confirmed that the proposed transaction threatens to affect competition in the telecommunications sector in the UK, where Telefonica and Liberty Global are currently two large market players.

Based on an overall assessment, the Commission decided to refer the proposed transaction to the CMA which will deal with the case under UK national law.

What to read next

Liberty Interactive to invest $2.4 billion in Liberty Broadband
Moody's assigns Ba1 rating to Telefonica's new GBP hybrid debt
Telefonica Brasil and Global Village Telecom to merge