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January 23, 2015

Li Ka-shing's Hutchison to buy Telefonica UK for £10.25 billion and China’s richest man snaps up stake in Athletico Madrid

Li Ka-shing's Hutchison to buy Telefonica UK for £10.25 billion

Hong Kong-based conglomerate Hutchison Whampoa, controlled by billionaire Li Ka-shing, is in exclusive negotiations tobuy Telefonica’s British mobile division O2 for £10.25 billion (€13.6 billion).

The conglomerate already operates the Three Mobile network in Britain. The combination of Three and O2 will create the largest mobile operator in Britain, with as many as 32 million customers.

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