EU to block O2 sale to Hutchison: source

A sign hangs outside an O2 mobile phone shop in central London January 23, 2015. REUTERS/Suzanne Plunkett

BRUSSELS: The European Commission is likely to shoot down Telefonica’s blockbuster sale of British telecom giant O2 to Hong Kong group Hutchison on fears it would inflict higher prices on British consumers, a source told AFP. 

“We expect European Competition Commissioner Margrethe Vestager to block the sale,” said a source close to the matter, indicating that a decision was expected this month.