EU Commission To Appeal Loss Over $12.7B Telecom Merger
Law360 (July 29, 2020, 3:40 PM EDT) -- The European Commission will appeal the European General Court's decision to allow CK Hutchison Holdings Ltd.'s planned £10.25 billion ($12.66 billion) acquisition of Telefonica SA's O2, a spokesperson for the commission told reporters Wednesday.
In a press conference, commission spokesperson Arianna Podestà said the European Union's competition enforcer will appeal the General Court's late May ruling to annul the commission's decision to prohibit Hutchison's acquisition of O2. The appeal would be made to the European Court of Justice, according to the Podestà.
She said the ruling raised "important legal issues" like the "standard of proof" in assessing mergers, the "value" of the...
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