What just happened?
The General Court (GC), Europe’s second-highest court, annulled a 2016 ruling made by the European Commission to block a proposed £10.25bn merger between O2 and Three on consumer interest grounds. The court ruled that the Commission had made several ‘errors of law’ and could not prove that competition would be harmed in the crowded UK telecoms market. This landmark ruling strikes a blow for Margrethe Vestager, the EU’s tough-acting competition commissioner, and could pave the way for further consolidation between Europe’s mobile operators.