Britain’s second-largest carrier O2 to be bought out in $15 billion deal

Hong Kong-based telecommunications giant Hutchison Whampoa is poised to purchase Britain’s second-biggest wireless carrier, O2, in a deal reportedly worth upwards of £10 billion ($ 15 billion). Hutchison Whampoa — owned by Chinese billionaire Li Ka-shing — already owns Three, another major cellphone provider in the United Kingdom. Should Hutchison Whampoa successfully purchase O2 from its current owners, Spanish firm Telefónica, then Ka-shing’s company would create the UK’s largest mobile group.

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