Jefferies analysts weighed up the risks for investors in UK-based telecoms operators following the country's decision to leave the European Union (EU), as economists, politicians and civilians started to consider the potential impact on the country's industry and economy.
CK Hutchison and VimpelCom offered to divest sufficient network assets and spectrum to create a new mobile operator on the Italian market in order to secure regulatory approval of the proposed merger of their respective businesses in Italy, Reuters reported.
The European Commission has given itself more time to decide whether or not to allow the proposed merger of Wind Italy and Three Italy to go ahead and extended the deadline for a decision by 15 working days from Aug. 18, 2016 to Sept. 8.
Three UK CEO David Dyson warned that BT could use its financial clout to outbid rival mobile operators in future spectrum auctions in the country, and called on regulator Ofcom to ensure a level playing field.
Telefónica could now decide to keep O2 UK rather than seek a new buyer or list the unit on the stock market according to Bloomberg.
The Sky group could play a pivotal role in future deals both for O2 in the UK and Wind in Italy, according to reports.
O2 UK could be the subject of an £8.5 billion (€10.7 billion/$12.2 billion) management buyout following the collapse of CK Hutchison's bid for the mobile operator, according to the Telegraph.
Unless you have, as the well-worn saying goes, been holidaying in Mars in recent days you will no doubt be aware that there is one unhappy businessman in Hong Kong. Li Ka-shing, the chairman of CK Hutchison, has been foiled in his attempt to create a new mobile monster after the European Commission decided to block his plan to buy O2 UK and merge it with Three UK.
The European Commission (EC) confirmed it will block CK Hutchison's plan to buy O2 UK and merge it with Three UK, citing competition concerns as its reason.
EE, the UK-based mobile operator recently acquired by BT, has pledged to cover 95 per cent of the UK landmass with its 4G network by 2020 in an effort to reduce the number of mobile broadband "not spots" around the country.