Trending: U.K. Watchdog Launches Deeper Probe Into Vodafone UK's JV With Three

1002 GMT - The U.K. Competition and Markets Authority is among the most mentioned topics across news items over the past three hours, according to Factiva data, after the regulator launched a deeper probe into Vodafone's planned joint venture of its U.K. operations with Three UK. The CMA said it is referring the deal for a phase 2 investigation after the companies failed to offer any undertakings to resolve competition concerns. If the probe finds the transaction would lessen competition, the regulator will ask for remedies which could include blocking the transaction or requiring the sale of part of the business. The move by the CMA was the expected next step and is aligned with the groups' completion time frame, a Vodafone spokesperson said. ING analyst Jan Frederik Slijkerman also noted that this was normal given the size of the merger, adding that he expects the deal to be cleared, subject to certain remedies. Vodafone shares rise 0.6% at 71.62 pence. Dow Jones & Co. owns Factiva. (najat.kantouar@wsj.com)

(END) Dow Jones Newswires

April 04, 2024 06:18 ET (10:18 GMT)

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