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Three takeover of o2 for £10bn done |
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#276 |
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http://www.ft.com/cms/s/0/8902cc48-5...#axzz3mKQ1hgoI
Quite an interesting read about what may happen if the takeover goes ahead. |
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#277 |
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Quote:
http://www.ft.com/cms/s/0/8902cc48-5...#axzz3mKQ1hgoI
Quite an interesting read about what may happen if the takeover goes ahead. |
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#278 |
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Join Date: Jan 2007
Posts: 587
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Quote:
Only if you pay for the FT.
O2 to become public company again after merger with Three Hutchison Whampoa Ltd. said it has entered exclusive negotiations to buy O2, Telefonica’s U.K. wireless carrier, for as much as 10.25 billion pounds ($15 billion). Photographer: Paul Thomas/Bloomberg©Bloomberg O2 is being lined up to become a public company again under plans by CK Hutchison, after it has completed its £10.3bn acquisition to create the UK’s largest mobile telecoms group. CK Hutchison, which is controlled by Hong Kong billionaire Li Ka-shing, is buying O2 from Telefónica, and will merge it with its Three network depending on regulatory approval. In an interview with the Financial Times, Canning Fok, co-chief executive of the Hong Kong group, said the combined UK business would be run by David Dyson, Three’s chief executive. “David Dyson is our leader here and so he will be the leader [of the new business],” Mr Fok said. This will raise questions over the future of O2 boss Ronan Dunne, although other roles could exist in the wider group. A spokesperson for Mr Dunne confirmed that he would step down from his position as chief executive of O2 after the deal had completed. Mr Fok added that an initial public offering of the combined £15bn business had been discussed with external investors, who have committed about £3bn to fund the deal. Investors include the CPP Investment Board and Singapore’s GIC. O2 was last listed as a separate business after being split from BT in 2003. “There is a liquidity requirement by our investor group and one way to provide will be an IPO, which we will support,” said Mr Fok, who declined to give a timeframe. “It’s only reasonable that you give yourself some time. No one is a magician . . . you need to work on business and get the customer happy.” He said the group would initially continue to use O2 and Three as brands. “You can assume that it might become Three. But there is a twist,” he said. “We haven’t made the final decision yet. We have a certain time we can use O2. It’s a strong brand.” Mr Fok was confident that Hutchison would agree a deal with the regulators to pass his acquisition of O2 in the UK and the merger with Wind and Three in Italy. Analysts have warned that both deals might face difficulties after a similar deal in Denmark was pulled this month in the face of opposition from the antitrust regulator in Brussels. “This market is full of competition. We have done this exercise in Austria and Ireland and we will come up with a solution in which everyone is comfortable,” he said. Denmark was a different sort of merger to the UK, he said, given the attempt to merge the second- and third-largest groups, which could have led to a near duopoly. This market is full of competition. We have done this exercise in Austria and Ireland and we will come up with a solution in which everyone is comfortable - Canning Fok He also said that he would talk to Ofcom, the UK telecoms regulator, about the future of a complicated network sharing arrangement. O2 shares a network with Vodafone, while Three shares with EE, but both rival groups would resist being left on their own in a three-company market. Mr Fok said it would not be practical to offload the extra traffic on one network immediately. “Three is 45 per cent of the data in the UK so it’s not like one day I can make a decision to switch to this or that. We have to work with the regulator to see what is the best approach,” he said. |
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#279 |
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Join Date: Mar 2001
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Now you see, what I get from that is hope and speculation, there is nothing in that article indicative of regulators findings. Ofcom is about to undertake a telecoms market review, I suspect mobile industry would be included in that. Though the government may have a slightly more reticent view, given the likely merger would result in jobs losses on a massive scale and less spectrum revenue.
I hope it gets thrown out, handing one entity near 50% of the market is not competition, its cartel like. |
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#280 |
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Join Date: Oct 2004
Posts: 14,641
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Quote:
Only if you pay for the FT.
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#281 |
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Join Date: Apr 2014
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Seems to me the sentiment is that the deal will go through but Three will have to give up some frequencies. Considering how they've just got some from EE, that only leaves Vodafone as a buyer. If VF don't want them from Three then the deal fails; which is just what Vodafone want. Oh Fok. Mr Ka-Shing will make it work.
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#282 |
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Join Date: Dec 2002
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If VF don't want them from Three then the deal fails
If VF dont want them, and EE cant/wont have them then couldnt they give them back to offcom, or even nay other company that may wish to us e them?Reading into this it seems that O2 is Telefonicas brand, and CKH can only have it for a while Quote:
He said the group would initially continue to use O2 and Three as brands. “You can assume that it might become Three. But there is a twist,” he said. “We haven’t made the final decision yet. We have a certain time we can use O2. It’s a strong brand.”
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#283 |
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Join Date: Aug 2001
Location: Destination: Hard Brexit
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Same as the reason EE are phasing out the T-Mobile and Orange brands. Because that is all they are now, not networks in their own right.
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#284 |
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Join Date: Nov 2006
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Quote:
If VF dont want them, and EE cant/wont have them then couldnt they give them back to offcom, or even nay other company that may wish to us e them?
Reading into this it seems that O2 is Telefonicas brand, and CKH can only have it for a while O2 is obviously a huge brand in the UK, but it's dying out in Europe, only remaining in the UK and Germany. |
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#285 |
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Join Date: Feb 2014
Posts: 248
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Quote:
Seems to me the sentiment is that the deal will go through but Three will have to give up some frequencies. Considering how they've just got some from EE, that only leaves Vodafone as a buyer. If VF don't want them from Three then the deal fails; which is just what Vodafone want. Oh Fok. Mr Ka-Shing will make it work.
![]() Does the BT acquisition also not increase EE already massive spectrum holding with the addition of further "BT" 2.6GHz 4G spectrum ? Does O2/Three have any 2.6GHz and would the combined company have signficantly more spectrum than EE for example ? |
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#286 |
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Join Date: Aug 2001
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My guess is that BT will have to divest their separate 2600MHz holding as part of a joint entity. Perfect opportunity for 3/O2 to acquire it as even when merged their 4G holding is tiny in comparison to the likes of EE/Voda
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#287 |
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Join Date: Aug 2014
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So O2 will have been able to sit around doing very little for the last five years and will be rewarded by having access to a much better 3G network.
I wish life worked this way. |
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#288 |
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Join Date: Apr 2014
Posts: 652
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Telefonica (O2) spent their budget in South America didn't they? Not much left for the UK, I don't think they want to sell O2, they have to.
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#289 |
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Join Date: Jun 2014
Posts: 499
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I hope the deal falls through I can see a complete shambles with o2 sharing all it's 4G sites with Voda and three suddenly having access to CTIL and MBNL will be unfair to Voda
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#290 |
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Join Date: Mar 2013
Posts: 4,249
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Quote:
Telefonica (O2) spent their budget in South America didn't they? Not much left for the UK, I don't think they want to sell O2, they have to.
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