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Hutchison O2 Ire deal next week

Friday, May 23 11:22:27

European antitrust authorities will likely make their decision on Hutchison's proposed takeover of O2 Ireland, next week, according to reports.

This comes after a key EU panel backed the deal, Bloomberg reported this morning.

Officials from the EU's national competition authorities met this week and gave their support to the European Commission's plans to approve the deal, said the people who couldn't be identified because the EU approval process isn't public. National regulators' decision, which isn't binding, paves the way for the European Commission to grant final approval at its next meeting on Wednesday, Bloomberg said.

Liberty Global Plc's unit is poised to provide mobile phone services in Ireland, taking up Hutchison's offer of network access that sought to ally EU regulatory concerns, two people said earlier this month.

Hutchison's concessions are designed to overcoming EU objections to the combination of two of Ireland's four mobile operators.