EU probe Hutchinson O2 Ireland unit bid

EU anti-trust regulators will investigate whether Hutchison Whampoa’s $1.05bn (€780m) bid for Telefonica’s Irish unit will reduce competition in the mobile telephony market in Ireland, the European Commission said yesterday.

The move will put pressure on Hutchison to offer concessions, such as spectrum sales, or making it easier for rivals to access its network, to ease the regulatory concerns.

Hong Kong-based Hutchison Whampoa, controlled by Asia’s richest man, Li Ka Shing, unveiled the offer for Telefonica’s 02 Ireland unit in June to boost its presence in Europe.