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This article was published on March 24, 2015

    $13.8bn sale of O2 to Three’s parent company Hutchison Whampoa is going ahead

    $13.8bn sale of O2 to Three’s parent company Hutchison Whampoa is going ahead
    Ben Woods
    Story by

    Ben Woods

    Europe Editor

    Ben is a technology journalist with a specialism in mobile devices and a geeky love of mobile spectrum issues. Ben used to be a professional Ben is a technology journalist with a specialism in mobile devices and a geeky love of mobile spectrum issues. Ben used to be a professional online poker player. You can contact him via Twitter or on Google+.

    Hutchison Whampoa, the parent company of UK mobile operator Three, has today confirmed that its purchase of rival UK network O2 will proceed, subject to final approvals.

    In January, the operator confirmed that it had been in talks to take over the O2 brand in the UK in a deal valued at £10.5 billion ($15.7 billion). According to the Wall Street Journal today, the value of the sale is actually £9.25 billion (around $13.8 billion). Hutchison could also have to pay up to one billion pounds more if O2 meets its targets.

    Exactly what impact this will have on customers of either network in the UK is currently unknown, but we’d expect both brands to continue for the foreseeable future. It also transforms the UK smaller of the big name operators into a considerably larger entity, while freeing up Telefonica to focus its efforts elsewhere beyond the UK.

    ➤ Telefónica Agrees to Sell O2 for $13.84 Billion [The Wall Street Journal]

    Featured image credit: 360b / Shutterstock.com

     

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