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  • Britain's competition regulator launched Friday an in-depth probe into a blockbuster £31-billion telecoms merger of Telefonica's O2 and Liberty Global's Virgin Media divisions. Spain's Telefonica and US giant Liberty had unveiled the mega-merger in May of their rival British divisions in a massive shake-up of the UK telecommunications and home entertainment market. The Competition and Markets Authority (CMA) said it will now carry out a so-called phase two investigation into the transaction after O2 and Virgin requested the move. "The CMA has today accepted this request given the deal's potential impact on competition in several telecommunication markets in the UK, and the phase two probe will begin immediately," the regulator said in a statement. "Both Virgin and O2 provide certain wholesale services to other mobile network operators in the UK. "The CMA is concerned that, following the merger, Virgin and O2 may have an incentive to raise prices or reduce the quality of these wholesale services, ultimately leading to a worse deal for UK consumers." The combined group would have a total value of approximately £31 billion (34.5 billion euros, $41.2 billion). The deal will also pile pressure on BT, the highly-indebted British operator that owns the EE mobile network. O2 is one of the few operators to have its own wireless network in the UK where it has 34 million mobile customers and access to several million via virtual operators like Tesco Mobile that use the O2 network. Virgin Media, which was purchased in 2013 by Liberty Global, the Colorado-based cable giant controlled by US tycoon John Malone, counts six million cable television subscribers and 3.3 million mobile customers. jbo-rfj/rl
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  • Britain launches probe into O2-Virgin Media merger
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