2023-03-07 15:04:55 ET
- French telecom Orange ( NYSE: ORAN ) is reportedly facing a full-scale European antitrust investigation over its $19B Spanish merger with MásMóvil Ibercom ( OTC:MMBMF ).
- The companies are looking to combine the second-largest and fourth-largest telecom operators in an ailing Spanish market - the first key test in years of regulators' appetite for allowing such a combination.
- And it's headed for a full probe at the European Commission, Reuters reports , citing sources that expect an in-depth investigation will follow a preliminary review on April 3.
- The EC is expected to reject a request from Spain's antitrust watchdog to take over the case, and it's likely to pursue remedies from MásMóvil in order to win approval for the deal, according to the report.
For further details see:
Orange, MásMóvil face full EU probe of $19B Spanish merger