3/21/2013 10:54:54 AM
OFT puts O2's sale of Be Internet under microscope
The Office of Fair Trading has launched an investigation into O2's £200 million sale of its Be Internet arm to Sky.
The organisation has asked interested parties to raise any concerns about the deal and will look at whether it will damage competition in the UK's broadband market. Responses must be submitted by 4 April.
The deal, which is scheduled to be completed by the end of next month, will see half a million O2 customers switch to Sky. The media company will pay O2 an upfront payment of £180 million, with a further £20 million to be paid depending on the successful switch of customers to Sky.
O2 said it was selling off Be Internet in order to focus on its mobile proposition and roll out of next generation 4G services.
Author: Graeme Neill