HOME | |

Three to buy O2 Ireland

AUDIO: €780 million deal gives Three 37.5% market share

Three to buy O2 Ireland
Author image
Ian Guider
11:31 Monday 24 June 2013

Mobile phone company O2 Ireland has been bought by Three in a deal worth up to €850 million.

Three are paying €780 million up-front, and will pay a further €70 million depending on the financial performance of O2. O2 is owned by the Spanish telecoms company Telefonica and it has been selling assets to pay down its debts.

The combined companies will have nearly 2 million customers and a 37.5% share of the mobile market, if the takeover is approved by competition watchdogs.

The two companies had combined revenues of €803 million in 2012, which compares to Three revenue of €174 million on a stand-alone basis.

Three says the deal will enable it to invest strongly in creating a state of the art network including 4G/LTE over the next number of years.

Three Ireland is 100% owned by multinational conglomerate Hutchison Whampoa Ltd (HWL).

CEO of Three Ireland is Robert Finnegan. He told Breakfast here on Newstalk this merger is good news for customers.

comments powered by Disqus
  • newstalk.ie image

    Something just went horribly wrong on RTÉ's National Lottery...

    newstalk.ie image

    These Irish lads should be working for Fáilte Ireland

    newstalk.ie image

    Brother of Philadelphia Rose reacts as he watches her win on TV

    newstalk.ie image

    Irish kid asks Jamie Carragher the best Luis Suarez question EVER

    newstalk.ie image

    Ice bucket challenge co-founder drowns aged 27

    newstalk.ie image

    Murder investigation launched into west Dublin shooting

    newstalk.ie image

    UK police say viewing footage of slain US journalist could be...

    newstalk.ie image

    Car insurer proposes creating pink 'women only' driving...

    newstalk.ie image

    International protests to call for change in Irish abortion law

    newstalk.ie image

    Former Taoiseach Albert Reynolds dies aged 81

  • newstalk.ie image

    Former Taoiseach Albert Reynolds dies aged 81

    newstalk.ie image

    Ryanair announces nine new Dublin routes

    newstalk.ie image

    Cliffs of Moher voted top Irish heritage site to take tourists

    newstalk.ie image

    Airstrike reported to have killed senior Hamas commanders

    newstalk.ie image

    Early morning headlines from the newsroom

    newstalk.ie image

    30 due in court in connection with Operation Tempest

    newstalk.ie image

    US attempted to rescue James Foley and other hostages

    newstalk.ie image

    Weather forecast

    newstalk.ie image

    Man in court over fatal north Dublin stabbing

    newstalk.ie image

    UK police say viewing footage of slain US journalist could be...