Telefónica and Hutchison Whampoa have agreed to enter into exclusive negotiations to discuss the potential acquisition of Telefónica UK.
Subject to agreement as a result of these negotiations and any necessary approvals including merger clearance, this will strengthen our future as a leading, and highly trusted UK communications provider at a time when the demand for mobile connectivity has never been greater. Three is known for campaigning on behalf of its customers, much like O2. We are confident that an agreement will mutually benefit the customers of both companies, as well as drive better value, quality and investment in one of the most digitally competitive countries in the world. More details can be found here.
Latest update: Here.