LONDON (Reuters) - The British competition regulator has asked to review the merger between Liberty Global's (O:LBTYA) Virgin Media and Telefonica 's O2 (MC:TEF) instead of Brussels because any impact on consumers will be felt in the UK and after Brexit.
The two companies have agreed to merge their British businesses in a $38 billion deal that will pose much stronger competition to market leader BT (L:BT).
"Ultimately, this is a decision for the European Commission, but as the merger will only impact UK consumers – and any effects would only be felt after the end of the transition period – it is only right for the CMA to request it back," said Andrea Coscelli, head of the Competition and Markets Authority.