EU Opens Investigation Into Mobile Payments JV
April 13 2012 - 12:35PM
Dow Jones News
The European Commission has opened an in-depth investigation
into the proposed creation of a joint venture in the U.K. between
Vodafone Group PLC (VOD.LN), Telefónica SA (TEF) and Everything
Everywhere in the field of mobile commerce.
The commission's preliminary investigation indicated potential
competition concerns in the nascent markets of mobile payment
applications supply [so-called "mobile wallets"], mobile
advertising and related data analytics services, where the joint
venture may have very high market shares.
The opening of an in-depth inquiry doesn't prejudge the final
result of the investigation. The Commission now has 90 working
days, until 27 August 2012, to take a final decision on whether the
proposed transaction would affect competition in the European
Union.
Everything Everywhere is a joint venture between France Telecom
(FTE) and Deutsche Telekom AG (DTE.XE).
-By Frances Robinson and Vanessa Mock, Dow Jones Newswires; +32
2 741 1486; frances.robinson@dowjones.com
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