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Telefonica price surges 4% after $12.6 billion sale of O2 to Hutchinson is unblocked

By: Invezz

Shares of Telefonica (EBR: TFA) surged 4.35% in today’s trading session after the Luxembourg-based General Court unblocked the sale of the UK’s O2 to Three UK, which is owned by CK Hutchison Holdings (OTCMKTS:CKHUF) for $12.6 billion.  Fundamental analysis: Hutchinson wins legal challenge against the EU The Hong Kong-based multinational conglomerate Hutchinson won the legal challenge against an EU antitrust decision to block the takeover of the UK’s O2. Three UK, which is owned by Hutchinson, agreed to pay $12.6 billion in 2016 to buy O2 telecom from Spain’s Telefonica.  “The commission takes note of the General Court’s decision annulling

The post Telefonica price surges 4% after $12.6 billion sale of O2 to Hutchinson is unblocked appeared first on Invezz.

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