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Hong Kong's Li Ka-shing seeks to buy O2 for $15 bn

  • Hong Kong tycoon Li Ka-shing is reportedly in talks to buy O2, the UK’s second biggest mobile provider, for more than $15 billion from Telefonica, according to media reports.  

    His company, Hutchison Whampoa, owns Three mobile; together with O2, it would become Britain’s largest mobile group.

    But competition regulators are likely to scrutinize the move to see whether a reduction in the number of the UK operators is detrimental to consumers’ interests.  

    At the moment, the country’s mobile market is divided between O2, Vodafone, Three, and EE.

    Li Ka-shing, Asia’s richest man, is believed to be worth £22 billion.

     

    Tagged as: Hong Kong tycoon, Li Ka-shing, O2, UK, mobile provider, Telefonica, Hutchison Whampoa, Three mobile; O2, Vodafone, EE, business news