Telefonica Highly Confident UK Sale to Hutchison Will Be Successful
February 25 2015 - 5:06AM
Dow Jones News
By Christopher Bjork
MADRID--Telefónica SA (TEF) is "highly confident" that the
planned sale of its U.K. unit O2 to Hutchison Whampoa Ltd.
(0013.HK) will be successful, the Spanish company's chief financial
officer said Wednesday.
"We are progressing nicely," Angel Vila said during a conference
call, adding that Hutchinson is conducting due diligence without
any surprises.
Hutchison and Telefónica began exclusive, non-binding talks in
January for a deal in which the Hong Kong firm would pay Telefónica
GBP10.25 billion ($15 billion) for O2, a leading U.K. cell phone
operator.
Write to Christopher Bjork at Christopher.Bjork@wsj.com
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