Are Three UK looking to buy out O2?
Hutchison Whampoa, the company behind UK mobile operator Three Mobile are reportedly looking to purchase competitor O2, who are currently owned by Telefonica.
According to industry analysts this deal could be worth as much as $13.6 billion (£9 billion) to Telefonica. Apparently Telefonica is looking to pull out of the UK wireless market and reduce the company's debts at the same time.
BT is already looking at EE and is hoping to strike up a deal where an acquisition can take place, there is no further information on whether a deal has taken place between O2 and Three but a merger would put three UK on a more even playing field with EE and Vodafone.
For more information on the UK Mobile Network Operators you can read another of our blog posts called Mobile Network Operators – Who’s the Best in the UK?
Telefonica O2 Ireland has already been bought out by Hutchison Whampoa as of July.
There is a message on the Irish Three Mobile website (www.three.ie) that states, "We’re now welcoming O2 customers into the Three family. You’ll see the O2 logo disappearing on the high street and online and start to be replaced by Three, but for you, it’ll be business as usual.
You can also look forward to some exciting developments over the next few months like improved data coverage and superfast 4G. You can now get Presale tickets for 3Arena, and soon you’ll be able to talk to our new Irish Customer Care Team."