The deal has been finalised and the British operation of Telefónica, O2, has been sold to Three. The people behind Three, Hutchison Whampoa have signed the final deal and O2 is being sold for £10.25 billion (€14 billion).

The sales price is divided into £9.25 billion in cash and another £1 billion “once the cumulative cash flow of the combined company in the UK has reached an agreed threshold”.

The next step will most likely be the removal of the O2 brand as the two companies get merged and Three will get a lot more customers and infrastructure at their disposal. While it removes one competitor from the market, it strengthens another. It will be interesting to see how this plays out in the long run.

Thanks to Coolsmartphone for providing us with this information