Feeds

Three daddy Hutch has no interest in O2

HK giant shuns debt-laden dino

  • alert
  • submit to reddit

Website security in corporate America

Three network owner Hutchison Whampoa has ruled out making a bid for O2 in the UK.

Hutchison agreed to take O2 Ireland off Telefonica's hands last year. The €850m deal is currently pending a final session of horse-trading before approval at the EU level.

In an interview with the Telegraph, Three UK's CEO Dave Dyson said "We don’t need to consolidate with anybody."

Telefonica is one of the world's indebted companies - with €52bn in long-term debt. By contrast, Hutchison Whampoa has lucrative businesses in ports, property and energy, and made a profit of almost $4bn on turnover of almost $53bn last year.

Eleven years on after its launch in the UK, Three remains in last place in the UK market (excluding virtual operators, MVNOs) but it is profitable and well-run. Net additions grew over 600,000 last year and margins are growing as a big part of the market abandons pay-as-you-go for monthly contracts.

BT, the former owner of O2, already operates as an MVNO for business, and is expected to enter the UK consumer market this year, making use of its Wi-Fi network and sports deals. It's currently switching from Vodafone to EE as its provider, a move expected to take a couple of years.

Hutch got a significant boost today in an EU ruling that decrees it eligible for tax relief on its losses. ®

Internet Security Threat Report 2014

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
ISPs' post-net-neutrality world is built on 'bribes' says Tim Berners-Lee
Father of the worldwide web is extremely peeved over pay-per-packet-type plans
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Google+ GOING, GOING ... ? Newbie Gmailers no longer forced into mandatory ID slurp
Mountain View distances itself from lame 'network thingy'
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
Bonking with Apple has POUNDED mobe operators' wallets
... into submission. Weve squeals, ditches payment plans
Drag queens: Oh, don't be so bitchy, Facebook! Let us use our stage names
Handbags at dawn over free content ad network's ID policy
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.