Hong Kong's Li Ka-shing seeks to buy O2 for $15 bn
January 23 , 2015
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.