HOME | |

Three to buy O2 Ireland

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

newstalk.ie image
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

    Ireland abstains from UN vote to set up human rights inquiry in Gaza

    newstalk.ie image

    Dog passes out from joy of seeing owner for first time in two years

    newstalk.ie image

    This is why Rory McIlroy refused to sign a child's autograph...

    newstalk.ie image

    Dublin Fire Brigade investigate suspected gas explosion

    newstalk.ie image

    Baby among 15 dead after Israeli shell strikes Gaza school

    newstalk.ie image

    Woman lets God take the wheel... and immediately runs over...

    newstalk.ie image

    Incredible moment cyclist lands on feet after head-on collision

    newstalk.ie image

    Five Palestinians killed amid prayer lockdown in Gaza

    newstalk.ie image

    Jobs Minister: Any issue with US corporations paying tax is US...

    newstalk.ie image

    'People will look at that and think this guy is insane'

  • newstalk.ie image

    Ceasefire Proposal For Gaza Is Rejected

    newstalk.ie image

    Gardaí appeal for help to find missing 'Garth Brooks'

    newstalk.ie image

    Five Palestinians killed amid prayer lockdown in Gaza

    newstalk.ie image

    Did this man upload a selfie after stealing an iPhone?

    newstalk.ie image

    Jobs Minister: Any issue with US corporations paying tax is US...

    newstalk.ie image

    Sean's Opening Story: Don't you just hate it when your...

    newstalk.ie image

    Eight-year-old carries his sibling through triathlon

    newstalk.ie image

    Scottish swimmer has priceless reaction to winning gold

    newstalk.ie image

    Record breaker six-year-old limbo's under 39 cars on...

    newstalk.ie image

    Fan nearly knocks over Tour de France's Nibali to get selfie