Competition Watchdog makes a fair call in backing major tie-up between mobile firms

Compare and contrast. Back in September, the Competition and Markets Authority had a big grumble about Vodafone and Three's plan to merge their UK mobile operations. A combination of the third and fourth largest operators could result in "a substantial lessening of competition" and "tens of millions of mobile customers having to pay more".

- Nils Pratley

And now? As long as the duo honour their promises to splash the cash and invest in their combined network, long-term competition should be strengthened, "benefitting millions of people who rely on mobile services", thinks the CMA.

That is not yet the watchdog's final word on the matter, but the light is flashing green for the deal.

What happened? Well, to be fair to the CMA, its seeming U-turn is not of the handbrake variety. Unless a deal is thrown out definitively at the first stage, there is usually a touch of negotiation-by-soundbite in these investigations.

September's provisional view still left the door open to precisely the sort of remedies the CMA is now backing.