Hutchison Whampoa has offered concessions to counter EU regulatory concerns about its proposed $1 billion bid for Telefonica’s 02 Ireland unit, the European Commission confirmed yesterday.

Hutchison offered concessions on Tuesday, European Commission spokesman for competition policy, Antoine Colombani, said, adding that the deadline for a decision on whether to clear the deal or not had been extended until May 19th.

Hong Kong-based conglomerate Hutchison, controlled by Asia’s richest man Li Ka-shing, is seeking to boost its position in Europe via a series of acquisitions. Its latest takeover offer has fuelled regulatory worries that the deal, which reduces the number of mobile telephony operators from four to three in Ireland, may lead to higher consumer prices.– ( Reuters )