ComReg concerns over O2 takeover

The takeover of O2 by Three approved by the European Commission could have negative consequences for Irish consumers, ComReg has warned.

Three will go from being the country’s smallest mobile operator to vying with Vodafone for the number one position with the acquisition for a reported €780 million of the Spanish owned Telefónica O2 by Hutchison, the Hong Kong owner of Three.

The European Commission has attached conditions to the takeover but ComReg, the national regulator, said it did not believe these would fully address the competition issues and believed they did not meet the commission’s own requirements.