Telefónica sold its subsidiary O2 Hutchinson – La Crónica de Hoy

 Telefónica has reached a “definitive agreement” to sell the British operator O2 to the Hong Kong company Hutchison Whampoa by 10,250 million pounds (mdl), about 14,000 mde, the Spanish bank said.
 “Telefónica reports that it has reached a definitive agreement after the completion of the relevant due diligence on O2 UK” to sell it to Hutchison Whampoa, said in a statement to the stock exchange authorities.
 “The parties have it agreed on a purchase price (firm value) of 10,250 mdl. The equivalent amount in euros is approximately 14,000 current exchange mde” he added.
 The Spanish company had already announced last January 23 to be in negotiations for the sale with Hutchison Whampoa, with the purchase of O2 can become the largest group of phones in Britain.
 The payment of the operation will take place in two steps, with a “down payment of 9,250 mdl (approximately 12,640 million euros and an additional deferred payment of 1,000 million pounds (about 1,360 million) that will be implemented once the joint venture in the UK reaches an agreed figure of cumulative cash flow, “the report said.
 Hutchison already owns the Three British telephone network, for what would happen to own Britain’s biggest mobile phone company.
 The Hong Kong company, controlled by tycoon Li Ka-Shing, also bought Telefonica in June 2013 its Irish subsidiary O2 Ireland to merge with its own subsidiary in the country.