Feeds

Three daddy Hutch has no interest in O2

HK giant shuns debt-laden dino

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Mighty Blighty broadbanders beg: Let us lay cable in BT's, er, ducts
Complain to Ofcom that telco has 'effective monopoly'
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
Broadband sellers in the UK are UP TO no good, says Which?
Speedy network claims only apply to 10% of customers
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
Facebook, working on Facebook at Work, works on Facebook. At Work
You don't want your cat or drunk pics at the office
Soz, web devs: Google snatches its Wallet off the table
Killing off web service in 3 months... but app-happy bonkers are fine
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
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?