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UK/Spain: Hutchison and Telefonica set to close O2 deal for $15.7 billion

 |  March 23, 2015

Hutchison Whampoa is expected to finalise a deal to buy Telefonica British mobile unit O2 for 10.5 billion pounds as early as Tuesday morning, the Financial Times reported.

The companies did not face any major issues during the two months of due diligence, which could allow the deal to be announced on Tuesday the FT said.

Owned by Asia’s richest man, Li Ka-shing, Hutchison is in talks with sovereign wealth funds including China Investment Corporation, Singapore’s Temasek and GIC, and one of Qatar’s big government-sponsored vehicles to provide a significant portion of the financing.

The company has plans to sell stake worth about 3 billion pounds, which makes about 30 percent of the group to outside investors, the newspaper reported.


Full Content: The Financial Times


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