Liberty Global plc / Telefónica S.A. merger inquiry

The CMA has investigated the anticipated joint venture between Liberty Global plc and Telefónica S.A to merge their UK operating businesses Virgin Media/Virgin Mobile and O2, respectively.

From:
Competition and Markets Authority
Published
8 October 2020
Last updated
20 May 2021 — See all updates
Case type:
Mergers
Case state:
Closed
Market sector:
Telecommunications
Outcome:
Mergers - phase 2 clearance
Opened:
8 October 2020
Closed:
20 May 2021

Phase 2

Administrative timetable

Referral date: 11 December 2020

Statutory deadline: 27 May 2021

Final report

20 May 2021: The CMA has cleared the anticipated joint venture between Liberty Global Plc and Telefónica S.A.

Responses to provisional findings

Provisional findings

14 April 2021: The CMA has provisionally cleared the anticipated joint venture between Liberty Global Plc and Telefónica S.A.

Responses to Issues statement

Issues statement

21 January 2021: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 5pm, Thursday 4 February 2021.

Inquiry group appointed

11 December 2020: The CMA has appointed the inquiry group:

Martin Coleman (Chair), Margot Daly, Cyrus Mehta, and John Thanassoulis.

Contact

Please send written representations about any competition issues to:

general.enquiries@cma.gov.uk

Terms of reference

11 December 2020: the CMA has referred the anticipated joint venture between Liberty Global plc and Telefónica S.A. for an in-depth Phase 2 investigation.

Phase 1

Statutory timetable

Date Action
22 December 2020 Decision published
11 December 2020 Decision announced
19 November 2020 to 26 November 2020 Invitation to comment
19 November 2020 Launch of merger inquiry
19 November 2020 Deadline for European Commission to decide on CMA request
8 October 2020 CMA request for referral made

Reference decision

11 December 2020: The CMA has referred the anticipated joint venture between Liberty Global plc and Telefónica S.A. for an in-depth Phase 2 investigation under its fast track procedure at the request of the merging parties.

Launch of merger inquiry

19 November 2020: The CMA has launched its phase 1 investigation following the European Commission’s decision to refer the case to the United Kingdom under Article 9(3)(b) of the EC Merger Regulation.

Invitation to comment: now closed

19 November 2020: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom (UK) for goods or services.

In this case, the CMA has received a request from the Parties for a fast track reference to Phase 2, in accordance with paragraphs 6.61 to 6.65 of the Guidance on the CMA’s jurisdiction and procedure (the Guidance).

The CMA is considering whether the criteria for a fast track reference, as set out in the Guidance, are satisfied. If the CMA is satisfied that the criteria for the use of the fast track process are met, the CMA will move quickly to a Phase 2 investigation. In previous fast track cases, a Phase 1 decision has typically been adopted within ten to 15 working days of the launch of the merger inquiry, although the duration of a fast track Phase 1 investigation varies on a case by case basis. A Phase 2 investigation would then last 24 weeks (subject to a possible extension of 8 weeks).

The CMA therefore invites comments from any interested party on (i) the impact that the Merger could have on competition in the UK and/or (ii) any reasons why it would not be appropriate for the CMA to use the fast track procedure in this case. In line with the CMA’s usual practice in fast tracked cases, the period for this consultation is relatively short (five working days), as interested parties will have further opportunities to present their views on the Merger during the Phase 2 investigation.

The comments should be provided by the deadline set out above.

CMA request for referral

8 October 2020: The CMA has made a request to the European Commission to refer the proposed joint venture between Liberty Global plc and Telefónica S.A to merge their UK operating businesses Virgin Media/Virgin Mobile and O2, respectively.

Published 8 October 2020
Last updated 20 May 2021 + show all updates

  1. Final report, appendices and glossary published.

  2. Parties’ response to provisional findings published.

  3. Full provisional findings, appendices and glossary published.

  4. Notice and summary of provisional findings published.

  5. Responses to the issues statement published.

  6. Issues statement published.

  7. Full text decision published.

  8. Administrative timetable published.

  9. Terms of reference published and inquiry group appointed.

  10. Reference decision published.

  11. The CMA has launched its phase 1 investigation following the European Commission’s decision to refer the case to the United Kingdom under Article 9(3)(b) of the EC Merger Regulation. Invitation to comment published.

  12. Article 9 request published.

  13. First published.

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