The parent company of Three UK, Hutchison Whampoa, has agreed to purchase O2 UK from Telefónica for the price of £10.25 billion, following initial discussions that started in January this year. The deal will require approval from British regulators, which could take upto a year to complete.
Hutchison Whampoa has today agreed definitive terms to acquire O2 in the UK from Telefónica. The deal agreed is the result of a period of exclusive discussions between the two companies. Closing of the deal is subject to regulatory approvals, but would bring together two respected mobile businesses in the UK.
O2 has around 22 million subscribers with Three having around 8 million, which combined will form the company with the largest subscribers in the UK, followed by Vodafone and EE.