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Telefónica ‘will not’ sell O2 Ireland
28 February 2012
Hutchison Whampoa may be interested in O2 Ireland but Telefónica denies Dublin reports that it is trying to sell
Telefónica has rejected speculation that financiers offered its Irish O2 mobile business to trade buyers sometime before the end of 2011, reported the Irish Independent newspaper. A Telefónica spokesman confirmed the €800 million business was not being putting up for sale, said the report.
The company earlier informed investors it would try to divest underperforming or non-core assets as part of efforts to cut its €56 billion debt. According to the report, the Spanish operator will not sell its shareholding in China Unicom or stakes in operations in Mexico and Germany. Analysts expect Telefónica to sell off smaller “non-strategic” assets.
Hutchison Whampoa supposedly intends to boost operations in Ireland. Hutchison Whampoa chairman Canning Fok reportedly told an Italian newspaper in October 2011 that the company was keen to acquire mobile phone companies in Europe. Hutchison Whampoa-owned 3 Ireland declined to comment on the report.
O2 Ireland’s customer numbers for fixed line and mobile services were down from 1.7 million to 1.68 million in 2011 and there was also a decline in ARPU. GTB
Further reports from Global Telecoms Business
Telefónica to launch mobile wallet services 15 Feb 2012
Telefónica tests 400 gigs on live network 06 Jan 2012
Telefónica in German network sharing talks 02 Dec 2011