Currently in the UK we have a total of four major networks to choose from, but today this has been announced to go down to two, this is with the official announcement that was made by Telefonica.
The company revealed that it will be selling the UK and Ireland side of O2 to Hutchison Whampoa, who own Three UK.
They also revealed the price for the purchase, announcing that the deal will be set at £10.25 billion. Once completed it will mean that Hutchison Whampoa will have the largest subscriber base in the UK.
However the deal is still pending approval by regulators, which could take anywhere up to a year.
If accepted it will mean that EE, Vodafone and the merged Three UK and O2 will be the only major networks available in the UK, and as of yet Whompoa has not confirmed if it will maintain O2’s brand and services, or merge them with Three UK, or even the other way around.
We have yet to receive a statement from either of the companies however Ronan Dunne, the chief executive of O2, said the merger “will result in the creation of the most customer-centric mobile operator in the UK.” Which doesn’t really provide us with more information.
It will certainly be interesting to see what comes from the deal once accepted, and how it will change the way the UK’s mobile market works.