Hutchison offers takeover concessions
Source: Bloomberg News |
October 23, 2012, Tuesday
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Print Edition
Print Edition
HUTCHISON Whampoa Ltd has made a new offer of concessions to European Union antitrust regulators probing its planned 1.3-billion-euro (US$1.7 billion) purchase of mobile-phone operator Orange Austria.
The European Commission extended its deadline to rule on the deal to December 21 after Hutchison offered commitments last week, it said in a website filing yesterday. It didn't give details of the offer.
EU Competition Commissioner Joaquin Almunia last week called on the company to make additional concessions and preferred a sale of spectrum, his spokesman said on Friday.
Hutchison's August proposal to sell access to mobile virtual network operators in Austria didn't prevent the EU antitrust agency sending the company formal objections on the deal last month.
The European Commission extended its deadline to rule on the deal to December 21 after Hutchison offered commitments last week, it said in a website filing yesterday. It didn't give details of the offer.
EU Competition Commissioner Joaquin Almunia last week called on the company to make additional concessions and preferred a sale of spectrum, his spokesman said on Friday.
Hutchison's August proposal to sell access to mobile virtual network operators in Austria didn't prevent the EU antitrust agency sending the company formal objections on the deal last month.
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