Spain Enters as the New Telefonica Shareholder
Spanish government acquired a 3% stake in Telefonica through a state holding company.
Microsoft's $19.7 billion proposed acquisition of Nuance Communications came under scrutiny in the UK after Competition and Markets Authority (CMA) launched an investigation. It is the latest in a series of moves by the regulator to put the brakes on technology mergers.
The CMA invited comments on the proposed transaction, noting in a statement these proceed with the opening of an initial phase probe. It is concerned over the potential for the deal to result in a substantial reduction in competition. Comments can be submitted until 10 January 2022, after which the CMA will decide on a fuller probe.
Microsoft wants to buy Nuance Communications for its speech recognition software, which uses AI and is widely deployed in the healthcare sector, a market the software company is keen to penetrate further with its cloud services. Authorities in the US cleared the takeover, with a European Commission review ongoing. When Microsoft announced the deal in April, it aimed to close by the year-end.