Li Ka-Shing's Hutchison Says Offers Up To $15.4 Billion For Telefonica's O2 UK


Li Ka-shing's Hutchison Whampoa Ltd said on Friday it had entered into exclusive talks to buy Telefonica's> British mobile unit O2 for up to 10.25 billion pounds ($15.4 billion).

Hutchison, which already operates the Three Mobile network in Britain, agreed to pay an indicative price of 9.25 billion pounds, the company said in a securities filing to the Hong Kong stock exchange. The company said it would add another 1 billion pounds in “interest sharing payments” should the combined business reach certain cash flow targets.