Three-O2 merger faces Brussels conditions

Competition officials in Brussels have laid out their opposition to the proposed Three-O2 merger, confirming that the £10.25bn deal will not go ahead without conditions. The Hong Kong conglomerate Hutchison, which owns the Three mobile network, has promised to freeze bills for five years. But the European Commission fears the deal would lead to higher prices. Yesterday, Virgin Media called on Brussels to back the deal so it can access more spectrum.