Hutchison to buy O2

PhoneConsolidation in the UK mobile industry is certain after Hutchison Whampoa said it will buy O2 for £10.25 billion.
O2 is currently owned by Spanish telco Telefonica.
Hutchison already owns the UK Three network.
O2 is the second biggest mobile operator in the UK, with around 22 million subscribers.
Just a few weeks ago we reported that BT entered talks with EE, with a view to acquiring it.
BT then ruled out buying O2. It is still in talks with EE over acquiring that business, with a view to becoming a dominant player in the UK market.
Hutchison more or less started off the mobile phone business in the UK with the launch of Orange.