Spanish incumbent Telefonica has dismissed suggestions that the group is looking to sell its €800m (US$1.08bn) Irish subsidiary O2 Ireland.
“Telefonica confirms that its Irish business is not for sale,” said a spokesman for the parent group.
A…
Spanish incumbent Telefonica has dismissed suggestions that the group is looking to sell its €800m (US$1.08bn) Irish subsidiary O2 Ireland.
“Telefonica confirms that its Irish business is not for sale,” said a spokesman for the parent group.
A Sunday Times report claimed on 26 February that O2 Ireland had been discreetly offered to an undisclosed group of trade buyers late last year, sparking the curiosity of local rival 3 Ireland.
3 Ireland, which is owned by Hong Kong-based conglomerate Hutchison Whampoa, declined to comment on the speculation.
But reports have pointed to comments made last October by Hutchison executive Canning Fok, who told Italian daily Corriere della Serra that the group would look to play an active role in European consolidation.
Indeed, earlier this year Hutchison announced it had agreed to buy Austrian mobile operator Orange Austria for around €1.3bn (US$1.74bn). Hutchison is still seeking regulatory permission to combine the unit with its local subsidiary, Hutchison Austria.
It is understood that representatives of the regulators and companies involved in the proposed sale met on 23 February to discuss what was required for antitrust approval.
