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Wireless

Hutchison in exclusive talks to buy O2 UK for GBP 10.25 bln

Friday 23 January 2015 | 08:49 CET | News
Hong Kong's Hutchison Whampoa, the parent company of mobile operator 3 UK, announced that it has entered into exclusive talks with Telefonica about the acquisition of mobile operator O2 UK for GBP 9.25 billion in cash to be paid at closing and a further GBP 1 billion after the combined cash flow of 3 UK and O2 UK reaches an agreed threshold. Hutchison said that the transaction remains subject to due diligence over O2, agreement on terms and corporate and regulatory approvals. Separately, Hutchison finance director Frank Sixt told the Financial Times that the acquisition would be completed

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Categories: Mobile & Wireless
Companies: 3 UK / Hutchison Whampoa / O2 UK / Ofcom / Telefonica
Countries: United Kingdom
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