Recently reports where released that suggested that BT might be looking to re-acquire O2 from Telefonica, however now it looks as though there’s another buyer in the running.

This time it is not a company that is interested, but instead Hutchison Whampoa who is said to be interested in acquiring O2 from Telefonica according to a recent report from Bloomberg.

Already owning the UK-based network Three, it is reported the Whampoa might be looking to merge the two networks to create something similar to EE.

According to the report he could also be looking to pay around £9 billion for the purchase of the network, however with EE and BT reportedly in the runnings as well, it could be quite a battle for the acquisition.

According to reports British Telecom where looking for a deal in order to step back into the mobile market after originally starting the company back in 1985 when it was called Cellnet.

EE were also reported to be interested in the deal in order to add more networks to their portfolio.

It will certainly be interesting to see who comes out on top, obviously the final deal will be subject to various UK regulations and OfCom’s approval, who will have to decide whether or not the bidding company already has a big enough stake in the mobile market.

Source Bloomberg

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