European Commission sets out concerns over Three's buyout of O2 Ireland

Three Ireland says it is working with the European Commission on its proposed acquisition of O2 Ireland.

Three Ireland says it has received a Statement of Objections from the EC which sets out concerns. They said that it is not an unexpected development.

The mobile phone operator says the acquisition of O2 Ireland will provide it with the scale and financial strength necessary to compete aggressively in the market to the benefit of Irish consumers.

They also say the acquisition will give it the means to roll out a state-of-the-art 4G network, increase competition and "provide much needed investment in the Irish market".

The company is dealing with the Commission's Statement of Objections and says it will work with the EC to achieve a "positive" outcome.