UK Regulator to Refer Potential Cellnex Acquisition of CK Hutchison Assets for Further Investigation
July 27 2021 - 12:35PM
Dow Jones News
By Anthony O. Goriainoff
The U.K.'s Competition and Markets Authority said Tuesday that
it will refer Cellnex Telecom SA's proposed acquisition of CK
Hutchison Holdings Ltd.'s passive telecommunications infrastructure
assets in the U.K. to a phase 2 investigation.
The regulator said the undertakings presented by the parties in
relation to the merger weren't a clear-cut solution to the
competition concerns identified as arising from the merger.
"Accordingly, the CMA has decided not to exercise its discretion
under section 73(2) of the Enterprise Act 2002 to accept
undertakings in lieu of reference," the regulator said.
The CMA on July 13 said that its investigation had determined
that the transaction raised concerns in relation to the independent
supply of assets, which could result in a lessening of competition
in the U.K. as Cellnex is already the largest independent supplier
of mobile towers in the country.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 27, 2021 12:24 ET (16:24 GMT)
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