A conglomerate backed by Asia’s richest man could confirm this week that it has finalised a deal to buy O2 in a move that would create Britain’s biggest mobile phone operator.
Hutchison Whampoa, which owns Three, and Telefónica, the Spanish owner of O2, are set to confirm that they have agreed final terms for a deal worth more than £10 billion.
Market sources said that a deal could be confirmed this week. It is expected that the financial terms will be largely the same as those outlined in January, when the groups first announced that they were in talks. This could mean Hutchison making an initial payment of about £9.25 billion for O2, followed by a further £1 billion upon completion.
Hutchison is also expected