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Liberty Global, Telefónica deal fast-tracked to in-depth probe at UK's CMA

( December 11, 2020, 07:21 GMT | Official Statement) -- MLex Summary: Liberty Global and Telefónica's planned UK joint venture has been referred for an in-depth probe by the Competition and Markets Authority after the companies asked for the case to be fast-tracked. The proposed deal could see Liberty Global merge its UK telecom business Virgin Media with Telefónica's O2. Merging companies can ask for a case to be fast-tracked to Phase II where there is sufficient evidence at an early stage for the CMA to conclude that there is a realistic prospect that the deal would result in a substantial lessening of competition. The phase II probe will be overseen by the CMA’s independent inquiry group, chosen from the CMA’s independent panel members. In the coming weeks, the group will publish an issues statement setting out the scope of its investigation.Statement follows. The decision is attached. ...

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