UK regulator refers Vodafone's merger with Three for in-depth competition probe

The U.K. competition regulator on Thursday referred the proposed merger between Vodafone and CK Hutchison's Three mobile network to an in-depth investigation.

Vodafone and CK Hutchison's transaction would merge the two brands' U.K. businesses, giving Vodafone a 51% controlling stake and leaving CK Hutchison with the minority interest. The Competition and Markets Authority said, with the information that it currently has, the deal may"be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom."The CMA has given itself a deadline of Sept. 18 to complete the in-depth probe, also known as a phase 2 investigation.The CMA has previously said the deal could lead to customers facing higher prices and reduced quality, a lessening of competition in the U.K. mobile market.

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