By Anthony O. Goriainoff
The U.K.'s Competition and Markets Authority said Tuesday that it is considering if Cellnex Telecom SA's acquisition of CK Hutchison Holdings Ltd.'s European tower businesses and assets would result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002.
The U.K.'s markets regulator said it is considering if that is the case, under the merger provisions of the Enterprise Act 2002, and if the creation of that situation would be expected to result in a substantial lessening of competition within any U.K. market or markets for goods or services.
The CMA said it was inviting comments on the transaction from any interested party to assist it with this assessment.
In November, Spanish wireless-telecommunications company Cellnex said it would buy Hong Kong-listed conglomerate CK Hutchison Holdings' European tower businesses and assets for around 10 billion euros ($11.91 billion).
The company said at the time that the deal included the acquisition of around 24,600 telecom sites in the U.K., Austria, Denmark, Ireland, Italy, and Sweden, and that it was expected to close on a staggered and per country basis over the next 18 months.
Write to Anthony O. Goriainoff at email@example.com
(END) Dow Jones Newswires