Mergers and Acquistions News
Categories: Telecoms
April 22nd 2010, 15:35PM
The proposed €1.5 billion (£1.3 billion) merger between France Telecom, the company behind mobile operator Orange, and Danish-owned telecoms firm Sunrise has been blocked by regulators in Switzerland.
It was decided by the Swiss competition commission (COMCO) that a merger would have resulted in an overly dominant position in the mobile telecoms market, effectively leaving consumers with a choice between the new company and Swisscom.
"The two companies would have achieved collective dominance, capable of suppressing effective competition," the authority said in a statement, according to Agence France-Presse.
"For these reasons COMCO forbids the project of concentration."
France Telecom is seeking to consolidate in the European market after closing a deal earlier this year to combine its operations in the UK with Deutsche Telekom AG's T-Mobile unit.
In other news, it has been widely reported that Qwest Communications International and Century Tel are in advanced discussions for a merger, which would represent one of the biggest US telecoms deals in recent years.
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