Telefonica sells Irish unit O2 to 3 Ireland for EUR 850 mln

Monday 24 June 2013 | 10:06 CET | News
Telefonica has agreed to sell its operating business in Ireland to 3 Ireland, owned by Hutchison Whampoa, for EUR 850 million. The consideration includes EUR 780 million in cash payable on completion and a further additional deferred payment of EUR 70 million dependent upon achievement of agreed financial objectives. The takeover of its bigger rival takes 3 to the number two position on the Irish market, with an estimated market share of 37.5 percent, with over 2 million active customers. The combined operators had pro forma revenues of EUR 803 million in 2012, compared to just EUR 174

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Categories: Mobile & Wireless
Companies: 3 Ireland / Hutchison Whampoa / O2 Ireland / Telefonica
Countries: Ireland
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