LONDON — Mobile network Three is set to acquire Britain's second-largest mobile provider O2 from Spain's Telefónica in a £10 billion ($15 billion) deal.
The move would create the UK's biggest mobile group and reduce the number of major operators in the UK from four to three.
It would also make Hong Kong tycoon Li Ka-shing, Asia's richest person whose firm Hutchison Whampoa owns the Three network, one of the biggest foreign investors in the UK.
Hutchison said its offer includes £9.25 billion ($13.9 billion) in cash plus up to another £1 billion ($1.5 billion) in interest payments after the deal is completed, depending on how O2 and Three perform once they are combined. Read more...
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