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Liberty Global-Telefónica telecom joint venture cleared by UK CMA

( May 20, 2021, 06:18 GMT | Official Statement) -- MLex Summary: Liberty Global and Telefónica's planned UK joint venture has been cleared by the UK's Competition and Markets Authority. The proposed deal will see Liberty Global merge its UK telecom business Virgin Media with Telefónica's O2. In final findings today, the CMA inquiry group concluded that the deal is unlikely to lead to any substantial lessening of competition for a number of reasons, including that the costs of leased lines are only a relatively small element of rival mobile companies’ overall costs, so it is unlikely that Virgin would be able to raise leased-line costs in a way that would lead to higher charges for consumers.The statement follows. The final report is attached....

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