LONDON (dpa-AFX) - UK's competition regulator the Competition and Markets Authority or CMA on Friday announced that it has launched its first phase of investigation into the telecom major Vodafone Group PLC (VOD.L) UK's combination with privately held telecom firm, Three UK.
The deal, which was entered into last year, would potentially combine both the companies' telecom operations under one single network.
The competition regulator has 40 working days to assess the deal and decide whether the deal will reduce the competition and if a more in- depth investigation is required.
'This deal would bring together two of the major players in the UK telecommunications market, which is critical to millions of everyday customers, businesses and the wider economy. The CMA will assess how this tie-up between rival networks could impact competition before deciding next steps,' commented Sarah Cardell, Chief Executive of the CMA.
Currently, Vodafone shares are trading at 68.81 pence, up 1.03% in London.
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