Telefonica Agrees to Purchase O2 for $31.5 Billion

Telefonica SA, Spain’s biggest
telephone company, agreed to buy U.K. mobile-phone operator O2
Plc for 17.7 billion pounds ($31.5 billion) in the largest
acquisition in the European phone industry in five years.

Buying O2 will give Telefonica 25 million customers in the
U.K., Germany and Ireland, bringing the total count to more than
165 million.
[via]

This news came out about an hour ago and I heard it in the car whilst droppling Lainey off at Nursery. Very interesting news and Iguess we’ll see how they compare now to the FT group.

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