A proposed deal is under review by the Competition and Markets Authority (CMA), in which Cellnex has agreed to buy Three’s UK passive infrastructure assets, is one of a series of transactions, worth £8.6 billion (US$11.9 billion) in total, involving the sale of CK Hutchison’s assets in several European countries. Passive infrastructure assets are structures, such as towers and masts, that mobile network operators, and other wireless communication network providers, attach electronic equipment to in order to operate their networks.
Cellnex is an independent supplier of telecommunications infrastructure, currently active across several European countries. CK Hutchison is a multinational conglomerate that currently owns and operates the Three mobile network in the UK.
In May 2021, the CMA announced an investigation into the proposed merger. Following the conclusion of its Phase 1 investigation, the CMA has found that the merger raises competition concerns in relation to the independent supply of passive infrastructure assets.
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