TAKEOVER BID BY TELEFONICA FOR O2.

• Position: Brief Article

The Spanish group Telefonica announced on January 3 that its takeover bid for O2 has been accepted by 62.72% of the UK mobile telephony firm's shareholders. That brings Telefonica's total share to 67.69% (the Spanish group already owned 4.97% of O2). This follows the European Commission's announcement on December 13 that it was extending its enquiry into the legality of the merger under EU competition laws by three weeks and will deliver its decision by January 10. It can either forbid the merger, on the grounds that will impede competition in the Internal...