Hungry Mobile Firms Look East ; Competition and Regulatory Pressures Force Europe's Big Players to Seek New Markets Further Afield
Mail on Sunday › November 07, 2005
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Summary
IT was a whirlwind romance. Spanish mobile phone giant Telefonica was offering the biggest ever cash dowry for a UK company. It did not take long for O2 chief executive Peter Erskine and chairman David Arculus to pledge: 'We do.' Considering O2 makes an average Pounds 279 a year from each of its 21.3 million customers and Telefonica's blockbusting Pounds 17.7 billion offer valued each of them at a whopping Pounds 830, it was no wonder the courtship was a quick formality.
The 200p-a-share offer means a big windfall for O2's employees, with their average holding in the company share scheme worth Pounds 17,000.See the full content of this document
Extract
Hungry Mobile Firms Look East ; Competition and Regulatory Pressures Force Europe's Big Players to Seek New Markets Further Afield
The 833,000 small investors who were bought out by O2 in March at 130p a share are likely to be less happy.
Hopes of a counter-bid were quickly extinguishe...See the full content of this document
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