When BT opted to announce a £12.5bn industry-shaking marriage with EE, it looked as if its other budding suitor O2 was going to be left by the wayside.
But it didn’t take long for Three’s Hong Kong-based owner Hutchison Whampoa to step into the fray, whisking Telefónica’s O2 off its feet with a £10.25bn bid.
It looks as if Bakers in particular will be busy on the deal, taking the lead on antitrust aspects as Hutchison Whampoa’s owner and Asia’s richest man Li Ka-shing tries to convince regulators that the move isn’t anti-competitive.
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