Three UK Owner Looking To Acquire O2 UKBy cheatmaster 08:19 Fri, 23 Jul 2021 Comments
Hong Kong-based Hutchison Whampoa is in talks to acquire its second UK carrier, O2. Currently owned by Spanish outfit Telefonica, O2 may go for £9.25 billion with up to £1 billion to be paid later.
Hutchison already owns Three and the potential merger between the two carriers will push it above the current leader EE, making it the biggest UK carrier with 32 million users. EE itself was eyed for acquisition by British Telecom, a deal that could reportedly cost £12.5 billion.
Anyway, the talks started on Friday and nothing has been decided yet, the negotiations will continue for several weeks. If successful, the deal will hold the number of leading UK carriers from four to three, which will require a regulatory approval.
Telecom expert Ernest Doku fears the reduced competition will lead to an increase in prices for users. That aside, the stocks of both Hutchison Whampoa and Telefonica went up after the announcement.
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