Hutchison Whampoa, Telefonica Continue Talks On Potential Acquisition Of O2 UK

(RTTNews) - Hong Kong billionaire Li Ka-shing's Hutchison Whampoa Ltd. (HUWHY, HUWHF) Tuesday announced that the company and Spanish telecom operator Telefonica S.A. (TEF, TDE.L) continue to be in exclusive negotiations on the definitive agreements for the acquisition of Telefonica UK or O2 UK.

On January 23, Telefonica and Hutchison Whampoa announced that they have entered into an exclusivity agreement for the sale of its UK mobile business, Telefonica UK or O2, for 10.25 billion pounds in cash or about 13.5 billion euros.

Further announcements will be made pursuant to any applicable requirements prescribed by the Listing Rules and/or Part XIVA of the SFO as and when appropriate, the company noted.

The potential transaction will remain subject to, inter alia, the obtaining of all requisite regulatory approvals.

The company added that its shareholders and potential investors should note that the negotiations may or may not result in a transaction being consummated and there is no certainty as to whether such transaction would proceed and/or become effective.

Accordingly, Shareholders and potential investors are advised to exercise caution when dealing in the shares and securities of the company.