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Telecom M&A May Get Boost as EU Court Topples U.K. Deal Veto (1)

May 28, 2020, 12:50 PM

CK Hutchison Holdings Ltd. won its European Union court fight to overturn the EU’s veto of its bid for rival O2, in a blow to Competition Commissioner Margrethe Vestager that may make it easier to get deals past merger watchdogs.

In a surprise ruling on Thursday, the bloc’s General Court toppled the European Commission’s 2016 merger ban, citing numerous mistakes in the EU regulator’s analysis and saying regulators failed to prove the tie-up would have harmed rivals and customers.

While the case is largely symbolic -- the companies have expressed no plans to resurrect the deal -- it’s one...

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