The negotiations between the Spanish Telefonica and coming from Hong Kong conglomerate Hutchison-Whampoa lasted from January. Finally, it was found that the O2 network will change the owner for the amount of $ 15.2 billion.
The deal will mean the consolidation of the UK mobile market. Hutchison, who now owns on Three Mobile, O2 after the acquisition of the 22 million subscribers to become the largest provider operating in the British Isles serving 32 million users.
The Communication stated that Telefonica decided to sell O2 to deal with the development of its services in Latin America. The transaction will have to obtain the consent of the British market regulator, the decision on this matter is expected in the middle of this year.
More information: O2 network O2, Telefonica
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