Jurisdiction(s):
United Kingdom

Key definition

Investments definition

What does Investments mean? In practice, investments are financial products or rights acquired with the expectation of income or capital growth, such as shares, bonds, fund units and derivatives. In UK financial services law, however, the regulated concept is “specified investments” under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO). This defined list includes, among others, shares, debentures and loan stock, government and public securities, warrants, units in a collective investment scheme, options and futures, contracts for differences, and rights under a contract of insurance. Whether a firm must be authorised, may communicate financial promotions, or owes particular...

UK merger control: CMA conditionally clears Cellnex acquisition of CK Hutchison UK passive tower assets; SLC found; 1,000-site divestiture remedy

Published by a LexisNexis Competition expert

Practice notes

CASE HUB Archived

This archived case hub sets out the position as at the decision date of 3 March 2022; it is no longer being updated. See also the timeline.

Case facts

Outline UK merger investigation into the anticipated purchase of the passive infrastructure assets of CK Hutchison Networks Europe Investments S.À R.L in the UK by Cellnex UK Limited. The parties overlap in supplying access to developed macro sites and associated services to wireless communications providers in the UK.

Latest developments

On 3 March 2022, the CMA published its final report, approving the deal subject to conditions following an in-depth phase 2 investigation.

Parties

Cellnex UK Limited (Cellnex): Cellnex owns and operates UK sites with passive infrastructure-elevated structures for attaching telecommunications equipment-used by wireless communications providers. Its customers are chiefly mobile network operators (MNOs). Cellnex’s passive infrastructure is also utilised by other communications providers.
CK Hutchison group (CK Hutchison): CK Hutchison is a multinational conglomerate based in Hong Kong. In the UK, its telecommunications division operates as an MNO, namely 3UK. 3UK and BT/EE have an infrastructure-sharing joint venture (MNO JV) to manage their shared networks...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 27/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...