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24th Jun 2013

When O2 become Three; one Irish mobile company buys another

The lads at Three have been splashing the cash this morning; €780million to be precise, to buy O2.

JOE

The lads at Three have been splashing the cash this morning; €780million to be precise, to buy O2.

Two companies that between them have 40 per cent of the Irish mobile phone market look set to merge. Telefonica, who own O2, have sold the Irish branch of the company to Hutchison Whampoa, who own Three, for €780m.

The deal still needs EU approval but should it go through the combined Three/O2 would have over 2 million customers.

The O2 brand will remain on our streets for a while, with a spokesperson saying it would be phased out over the next two years to be replaced by Three. As for the O2 and Three workforces, Three’s chief executive Robert Finnegan said it was in the early stages of planning for how they would merge the staff.

Three have 50 shops across the country while O2 have close to 70.