Mergers and Acquistions News
Categories: Telecoms
December 18th 2009, 17:23PM
France Telecom and Deutsche Telekom are hoping for regulators in Brussels instead of London to examine the proposed merger of their UK mobile carriers, Orange and T-Mobile respectively.
The proposed deal, which was announced in September, would see T-Mobile and Orange join together in a 50:50 joint venture, creating a company with an estimated 28.4 million customers.
However, the Financial Times reports that the telecoms groups are hoping for a shorter inquiry by the European Commission rather than a protracted investigation by UK competition authorities.
The European Commission currently has jurisdiction over the case because two-thirds of the turnover of both companies is based outside the UK, although it could still hand the case over to UK authorities.
A European Commission inquiry lasts for a maximum of 25 working days, which can be followed by an 18-week in-depth investigation, while the Office of Fair Trading in the UK has up to 45 working days for the initial probe and 24 weeks for an investigation.
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