By Sabela Ojea
The U.K.'s Competition and Markets Authority said Tuesday that Cellnex Telecom SA's proposed acquisition of CK Hutchison Holdings Ltd.'s U.K. passive telecommunications infrastructure assets raises competition concerns.
The regulator said the investigation--which was launched in May--determined that the transaction raises concerns in relation to the independent supply of assets, noting that this could result in a lessening of competition in the country.
"Cellnex is already the largest independent supplier of mobile towers in the UK. We're concerned that this deal could help to lock in this position and prevent the emergence of new direct competition," said Mike Walker, chief economic adviser at the CMA.
Write to Sabela Ojea at email@example.com; @sabelaojeaguix
(END) Dow Jones Newswires