Vodafone will take Hutchison deal to competition watchdog in ‘coming weeks’
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LONDON (Reuters) – Vodafone will present its British merger deal with CK Hutchison to Britain’s competition regulator in the coming weeks, the London-listed company’s UK CEO said on Wednesday.
Ahmed Essam said the companies had not pre-notified the Competition and Markets Authority about the deal.
“As we go into the coming weeks, we are going to bring the case to the CMA. We believe that this case stands on very strong grounds,” Essam told reporters after the deal was announced. “We’re very confident on our case.”
Hong Kong-listed Hutchison’s Three UK boss Robert Finnegan pointed out that the planned 11 billion pound ($13.91 billion)investment in its 5G network in the UK from the merger was substantially higher than rivals’.
He added that while the company would not exit Britain if the deal were to be blocked by the regulator, its investment would be reduced.
($1 = 0.7910 pounds)
(Reporting by Paul Sandle and Muvija M; Editing by Kate Holton and William James)