Newstalk - Three to buy O2 Ireland

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.com image

    Fine Gael TD says Ireland facing a potential "ISIS...

    newstalk.com image

    POLL: Most Germans think the Irish took austerity lying down - what...

    newstalk.com image

    Thousands sign petition to keep 'dating coach' out of...

    newstalk.com image

    VIDEO: Children react to normal-looking Barbie dolls

    newstalk.com image

    #JOBFAIRY: We're expanding our digital team, and have six new...

    newstalk.com image

    Wednesday night rugby: The panel discuss Ireland v Australia

    newstalk.com image

    Watch this Dad try not to laugh while investigating why his sons...

    newstalk.com image

    Hackers are streaming private webcams from Ireland

    newstalk.com image

    VIDEO: Newlands Cross flyover opens to traffic today

    newstalk.com image

    Waterford firefighters 'astounded' at people taking...

  • newstalk.com image

    The Football Show covers Dave Whelan, Martinez v Keane and Del...

    newstalk.com image

    Connaught's former All-Black Mils Muliaina talk about adapting...

    newstalk.com image

    Anthony Daly talks about his Clare hurling legacy and Dublin days

    newstalk.com image

    Johnny Giles talks Ireland, Robbie Brady and Jack Wilshere on...

    newstalk.com image

    Sheffield United reverse decision to allow Ched Evans to train

    newstalk.com image

    LIVE BLOG: Thursday night's Off the Ball

    newstalk.com image

    Kilkenny's Tommy Walsh calls time on his inter-county career

    newstalk.com image

    VIDEO: A look ahead to Saturday's clash with Australia

    newstalk.com image

    Teams have been announced for Ireland v Australia

    newstalk.com image

    VIDEO: With both teams happy with a draw, Cameroon v Ivory Coast...