A PYMNTS Company

UK: O2 turns to small investors after merger fail

By  |  October 3, 2016

The telecoms giant O2 is preparing for a £10.3billion stock market float before the end of the year or early 2017, which will see investors offered a minority stake in the company. The move is a bid by Spanish owner Telefonica to reduce its heavy debt burden.

It had sought to sell O2 for £10.3billion to Hutchison, the owner of rival mobile network Three last year, but the deal was blocked by EU regulators and the UK’s Ofcom and Competition and Markets Authority who claimed the merger would have harmed competition and consumer choice.

Full Content: Deje News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.