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UK: Telefonica finalizes deal to sell mobile phone network O2 for £10bn

  • Telefonica has clinched a £10.25 billion deal to sell its mobile phone network O2 to Hutchison Whampoa, effectively creating Britain’s largest mobile operator.

    The two firms said a “definitive agreement” had been reached on a deal.

    Hutchison owns the UK’s Three mobile network.

    The deal’s completion, however, requires regulatory approval and the entire process could take a year.

    The coming together of the two networks would give the combined entity a market share of more than 40% in the country.

    Tagged as: Telefonica, mobile phone network, O2, Hutchison Whampoa, Three mobile, UK mobile network, business news