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Sure’s CEO has welcomed a consultation on its proposed merger with Airtel Vodafone, which is being undertaken by the Jersey Competition Regulatory Authority (JCRA).
Sure announced its intention to acquire Airtel by mutual consent in October 2022. While this merger is being regulated by the JCRA (Jersey Competition and Regulatory Authority) in Jersey, the deal would have to be signed off on a political level in Guernsey.
This is because Sure isn’t looking for regulatory approval for the merger in Guernsey, it is instead applying for an exemption to suspend Competition Law.
Most recently the JCRA announced a month-long consultation on the acquisition, with the deadline for submissions the 28 June. You can find the consultation ONLINE.
The consultation has provided the following questions:
[1]: Do you have any comments on the Authority’s identified theories of harm and its assessment of the benefits of the Proposed Transaction?
[2]: In relation to the Upfront MVNO Remedy, please provide your views on whether this remedy is likely to be effective in addressing the Authority’s identified competition concerns. Please substantiate your response.
[3]: Do you think the Co-op could be a credible MVNO player in the supply of retail mobile telecommunications services in Jersey?
[4]: In relation to Conditions 1-5, please provide your views on whether these commitments, in combination with the Upfront MVNO Remedy, are likely to be effective in addressing the Authority’s identified competition concerns. Please substantiate your response.
[5]: Provided that the Proposed Transaction is approved subject to conditions and the Upfront MVNO Remedy, please provide any comments you may have in relation to this application for exemption pursuant to Article 9 of the Competition Law?
Pictured: Sure' CEO Alistair Beak.
“We welcome the JCRA’s consultation on our intention to acquire Airtel Vodafone in Jersey, which is a significant step forward in the process,” said Alistair Beak, Sure’s Group CEO.
“Once the public consultation concludes, and if the JCRA then approves the merger, the final remaining element to the acquisition proceeding will be securing approval from the Guernsey authorities.
“Last June the Committee for Economic Development published a policy letter which recommended that a temporary exemption be applied to the approval process, given the strategic benefits of the transaction and the legally binding commitments we were making.
“We firmly believe that the reasons for that approach remain very much intact, and in fact have been strengthened by our agreement with the Channel Islands Coop, announced last week, to facilitate Coop Mobile’s entry to the market as a virtual operator. This, alongside the other legally binding commitments, provides further protection for consumers. In short, the strategic benefits of the acquisition remain but the impact on competition has been significantly reduced.
“On the completion of the transaction Sure will embark on a very significant investment of up to £48m in the islands’ mobile networks, bringing the very best 5G mobile technology to give customers faster data speeds, wider coverage, better value for money and a more resilient and secure mobile network.
“Today’s consultation is important progress for the proposed merger, and we eagerly await the next steps in both islands as to whether this landmark evolution in mobile connectivity can go ahead.”
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