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Hutchison reviewing EU objections to O2 British merger-source

Reuters - UK Focus

LONDON, Feb 5 (Reuters) - CK Hutchison Holdings Ltd has received the EU's view on its plan to buy Telefonica (Amsterdam: TA6.AS - news) 's O2 to create Britain's biggest mobile operator and reduce the number of networks from four to three, according to a person familiar with the situation.

Last October, EU antitrust regulators launched a full investigation into Hutchison (HKSE: 0013-OL.HK - news) 's 10.3-billion-pound ($15.8 billion) bid for the Spanish company's British network, concerned that the deal may push up prices.

"Hutchison has received a copy of the statement of objections on Thursday and is now reviewing it," the source said on Friday.

The Hong Kong-based company, which owns Britain's smallest network Three, showed it was willing to address any competition concerns on Tuesday by saying it would freeze prices for five years if the deal got the go-ahead.

It (Other OTC: ITGL - news) also said it would invest 5 billion pounds in its businesses in Britain. (Reporting by Paul Sandle; editing by Adrian Croft)