A rumour about this appeared not long ago, but now the deals real. Hutchison Whampoa is looking to buy O2 from Telefonica.

Hutchison Whampoa is a Hong-Kong based company which owns Three UK and it has revealed that its has had some “exclusive negations” with Telefonica to buy the UK mobile network, O2 for £10.25 billion. The actual deal isn’t complete, but the UK mobile network market is seeing a big revamp lately, BT is in talks to by EE for £12.5 billion which will pitch it against TalkTalk as the next quad-play provider.

While a lot of O2 users might not be so keen on it, the acquisition will allow O2 and Three the biggest user base in the UK, which will certainly put pressure on EE.