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23/01/2015
HWL In 'Exclusive Negotiations' To Acquire O2
Hutchison Whampoa Limited (HWL), parent company of UK telecom operator Three UK, has confirmed it is in discussions with Telefónica, S.A. to buy O2 UK, for £10.25bn.
HWL, owned by Asia's richest man Li Ka-Shing, said it was in exclusive negotiations which are expected to last for several weeks.
In a statement the firm said: "The transaction remains subject to satisfactory due diligence over O2 UK, agreement on terms and signing of definitive agreements, and obtaining required corporate and regulatory approvals. The negotiations may or may not result in any transaction."
(CD/JP)
HWL, owned by Asia's richest man Li Ka-Shing, said it was in exclusive negotiations which are expected to last for several weeks.
In a statement the firm said: "The transaction remains subject to satisfactory due diligence over O2 UK, agreement on terms and signing of definitive agreements, and obtaining required corporate and regulatory approvals. The negotiations may or may not result in any transaction."
(CD/JP)
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