Home Telefonica sells Irish unit O2 to 3 Ireland for EUR 850 mln
 

Keywords :   


Telefonica sells Irish unit O2 to 3 Ireland for EUR 850 mln

2013-06-24 10:06:00| Telecompaper Headlines

(Telecompaper) Telefonica has agreed to sell its operating business in Ireland to 3 Ireland, owned by Hutchison Whampoa. The total consideration for the acquisition is EUR 850 million, with EUR 780 million in cash payable on completion and a further additional deferred payment of EUR 70 million dependent upon achievement of agreed financial objectives. The takeover of its bigger rival takes 3 to the number two position on the Irish market, with an estimated market share of 37.5 percent, with over 2 million active customers. The combined operators had pro forma revenues of EUR 803 million in 2012, compared to just EUR 174 million for 3 alone. 3 said the deal will give it the strength to challenge Vodafone for the number one position on the market.

Tags: eur unit ireland irish

Category:Telecommunications

Latest from this category

All news

»
24.11STEINBACH40
24.11 Sepua Crue F-170
24.11 SECRET
24.11CRAwith
24.1111/15)&&
24.11 8
24.11
24.11F2023 23
More »