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January 19, 2015

Three UK in early talks to acquire O2 UK

3-branded-store-logoUK mobile network Three UK, owned by (HW) Hutchison Whampoa, who already owns O2 Ireland, is considering a purchase of Telefonica’s O2 UK for around £9 billion ($13.6 billion), according to a report from The Sunday Times (link below). Talks are at a very early stage so obviously nothing is confirmed yet.

A deal makes sense for both companies given that HW is looking to expand in Europe.  Telefonica  the owner of O2 has mounting debts and needs to sell-off some of its businesses to bring in some much needed cash. They even looked at selling O2 UK to BT last year, but the deal didn’t go through and the telecom giant eventually want into detailed talks to acquire EE.

Three’s acquisition of O2 would also make it the biggest carrier in the UK – it is currently the fourth largest network in the country. However, any such deal between the two could cause regulatory concerns as it would bring down the number of major mobile operators in the UK from four to three.

Source: The Sunday Times

Via Engadget

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Dave Thornton

Senior Editor

Senior Editor
Been involved in technology for many years, more than I care to remember. Live in Dundee, Scotland. I like Android, Windows Phone OS, BlackBerry OS and iOS, and love writing about all things techie. Currently have a Honor 6+, Elephone P6000, Nexus 5, Chrombook C720, HTC One M7, Nokia Lumina 625, Microsoft Lumia 435, Blackberry Q10, HTC Hero and iPad mini