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Hutchison Whampoa agrees definitive terms to acquire O2 in the UK from Telefónica
On 11th May 2016, The European Commission confirmed that it would not approve the transaction.
We therefore remain part of Telefónica and will continue to differentiate, compete fiercely and deliver the best possible service and experiences to our customers
More details here.
Hutchison Whampoa has today agreed definitive terms to acquire O2 in the UK from Telefónica. The deal agreed is the result of a period of exclusive discussions between the two companies. Closing of the deal is subject to regulatory approvals, but would bring together two respected mobile businesses in the UK.
O2’s vision has always been to provide the very best customer experience. This deal will – subject to merger clearance – result in the creation of the most customer-centric mobile operator in the UK. We are pleased to be integral to such an exciting ambition and are confident that as a result of the deal, UK customers will benefit from greater value, quality and innovation. We also fully expect that new and exciting opportunities will open up for employees of both businesses.
The deal is subject to regulatory approvals which might take up to a year. In the meantime, our priority is to continue to look after our customers, delivering the very best experience that they have come to expect from O2. For more information, click here.