Three in $13.6 billion buyout of fellow UK carrier O2
UK carrier 3 wants to buy fellow network provider O2 who was recently plagued too many by troubled waters. According to latest information coming from Sunday Times (UK), Hong Kong billionaire Li Ka-shing who owns Three is is ready to finance the purchase of the Telefonica-owned O2.
The reports states that Three is offering $13.6 billion for the buyout of the UK carrier. It is believed that Telefonica who owns O2 wants to pull out of the UK telecoms market in order to settle debts and focus attention elsewhere.
In other news, British Telecom, has reached an agreement to acquire another UK carrier EE for $19.2 billion. The deal is pending government clearance.