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Hutchison offers plan to keep 3, O2 separate after takeover
2016-03-17 10:01:00| Telecompaper Headlines
(Telecompaper) CK Hutchison has confirmed plans to keep the 3 and O2 UK businesses separate after its takeover of O2, in order to gain regulatory approval for the takeover of O2 from Telefonica. In its annual earnings report, Hutchison said it was considering the sale of a stake in 3 UK to a new investor in order to help reduce the cash required for the acquisition. If the new investment goes ahead, the group will consider implementing "a revised business structure that would maintain the continuity and separation of the 3 UK and O2 UK businesses". Hutchison said this would be aimed at achieving benefits in terms of operational strategy and focus, regulatory approvals and contractual obligations, while preserving financial and operational efficiencies and savings expected from the acquisition of O2 UK.
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Category:Telecommunications