Three offers ‘effective’ remedies to ease fears

Mobile communications company, Three Ireland has promised to offer “strong and effective remedies” to address European Commission concerns into its proposed takeover of rival network provider, O2 Ireland, ahead of a formal ruling on the deal at the end of April.

The network provider confirmed yesterday that it had received a Statement of Objections — setting out third-party concerns — from the EC, but said it remains confident of the takeover going ahead.

Three — which is owned by Hong-Kong-based conglomerate, Hutchison Whampoa — entered the Irish market in 2005 and has since become the country’s fastest growing telecommunications player.