LONDON / MADRID (Reuters) – Hutchinson Whampoa, which owns the fourth mobile operator Three British negotiates with Telefonica to buy from the Spanish subsidiary O2, published on Sunday, the Sunday Times citing financial sources of the City of London.
The price could reach 9,000 million pounds, although discussions are at an early stage and there can be no assurance that agreement, the British newspaper said.
Telefónica did not comment on the information.
O2, acquired by Telefónica in early 2006, is the second British mobile operator with 22 million subscribers.
According to the Spanish digital newspaper El Confidential, Telefónica had hired UBS to accelerate the sale of O2 by 12,000 million euros and sealing operation before closing the annual results for these reflect a sharp reduction in debt.
Reuters published in November that Hutchinson was working with an advisor to reach agreement on rival network O2 and EE, owned by Orange and Deutsche Telekom. The former British monopoly BT is now negotiating exclusive purchasing EE.
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