Remember back in January when we revealed that Hutchison Whampoa were in talks to buy O2? It’s now looking like the deal has been sealed, and further details will be revealed in the morning.
Three owners, Hutchison Whampoa, are set to announce the deal in just a few hours according to the FT and Reuters. A cool £10.5 billion ($15.70 billion) will be handed over to purchase the company from Telefonica. Two months of due diligence seems to have completed without a hitch and it’ll all get finalised and announced on Tuesday morning.
Originally it was reported that £9.25 billion would be paid with another £1 billion in deferred interest share payments
As always, we’ll let you know if we hear more, but it’s looking like O2 will become one big Three. :)