Three and O2 merger

Looks like 3 and O2 will be one

In reference to www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms...:

Hong Kong tycoon Li Ka-shing is to create a new leader in Britain�s mobile phone industry after agreeing to buy O2 for more than £10bn.

Telefonica, the owner of O2, will announce a merger with Mr Li's Hutchison Whampoa, which runs Three, on Friday morning, The Telegraph understands.

The deal will create Britain�s biggest mobile phone company with 32m customers, overtaking EE and Vodafone, with 27m and 20m respectively.

Telefonica and Hutchison Whampoa have held talks since BT ended discussions to buy O2 last month in order to make a £12.5bn move for EE.

It is believed that Telefonica and Hutchison Whampoa want to present their deal to competition authorities in Brussels at the same time as BT unveils its potential purchase in a bid to ease fears of a reduction in the number of UK operators. This would allow them to argue that BT is shaking up the industry and would ease fears of a reduction in the number of UK operators.

European authorities are likely to approve the O2 sale.

So AYCE on o2?

I've already got it .

300 minutes to mobile networks (hardly use that); unlimited to landlines (used frequently) except premium charged ones; unlimited texts except for 5-digit numbered ones; unlimited data. Less than £17pm.

http://www.o2online.ie/o2/three-and-o2/

Don't know if their Irish websites have been updated as part of this or it's some other deal.

Edited by deleted (Fri 23-Jan-15 00:13:57)

That's O2 Ireland's website. (Look in "About O2" at the bottom). Three bought them in 2013/14.

On 24 June 2013, it was announced that Hutchison Whampoa would acquire Telef�nica's Irish mobile operations for �780 million, to be merged into 3 Ireland upon completion of the deal. The deal was cleared by the EU in June 2014. On 15 July 2014, the acquisition was fully completed.

Edited by RobertoS (Fri 23-Jan-15 00:21:02)

O2 in Ireland was purchased by Hutchison Whampoa back in 2013 with the deal finally completing after EU approval in mid 2014. It is nothing to do with the UK O2 being sold.

BT set up an Irish mobile operator which was separated from BT within the main O2. O2 was purchased by Telefonica who then separated and sold of Ireland.

Also wonder if 3 will continue allowing Giffgaff to operate on the network?

If they purchase O2 then I would guess GiffGaff would be included in that deal.

Why would Telefonica want to retain a small MVNO?

But as Giffgaff is community run and an offshoot I do wonder if 3 would continue running it or whether it would be shut down.

They are confident that the takeover will not be blocked in the UK or EU or they would not be spending millions on the approach, due diligence, negotiations &c.

With that, it is being seen that BT will have an easy regulatory ride with their EE purchase especially as they do not currently have a mobile network. And BT shares are on the up again today - so far by 2.4%.