7/16/2014 8:30:00 AM
Three concludes its acquisition of O2 in Ireland
Hutchison Whampoa’s mobile subsidiary Three Ireland has formally concluded its €850m acquisition of O2 Ireland from Telefónica. The deal makes Three the second largest mobile operator in the country.
Under the conditions placed by the European Commission on the acquisition, Three will provide network capacity and services to two MVNOs to allow for new entries into the Irish market. MVNOs have the option to acquire spectrum to become a full network operator in Ireland.
Cable and TV broadband operator UPC will offer network services from 2015. Meanwhile, Carphone Warehouse will also start offering mobile services in the summer of next year.
Three CEO Robert Finnegan said it was for the Irish telecoms market. 'We will now get down to the task of combining the strengths and talents of the two businesses to create a major force in the Irish mobile market, which will be good for competition, good for consumers and good for Ireland.'