O2 CEO Says European Phone Companies Needs More Consolidation
2015-04-02 15:11:38.694 GMT
By Jim Silver and Amy Thomson
(Bloomberg) -- If Europe wants its mobile networks to be as
advanced as those in U.S., further wireless mergers are
necessary, CEO of Telefonica’s O2 unit, says in interview with
Bloomberg.
* European regulations need reforms to allow cross-border
mergers, which will support investment in new networks and
increasing wireless data use, Dunne said
* Bigger companies, like Telefonica and its peers with
operations in several countries, will then be in a
position to “roll up” some of the smaller operators
* “There’s a realization that you need in-country scale,
but you also need some European champions”
* “There’s a realization that you need in-country scale,
but you also need some European champions”</li></ul>
* NOTE: Telefonica agreed to sell its O2 unit in the U.K. to
Hutchison Whampoa for GBP10.25b last week
* “Scale is going to continue to be important and
increasingly important,” Dunne said, “we needed to be a
buyer or a seller”
* Dunne declined to comment on how a merged Three-O2 might
participate in cross-border deals
Full Story:NSN NM6PQD6VDKHU<GO>
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To contact the reporters on this story:
Jim Silver in New York at +1-212-617-7342 or
jsilver@bloomberg.net;
Amy Thomson in London at +44-20-3525-0662 or
athomson6@bloomberg.net
To contact the editors responsible for this story:
Andrea Snyder at +1-202-624-1831 or
asnyder5@bloomberg.net
Jay Miller
2015-04-02 15:11:38.694 GMT
By Jim Silver and Amy Thomson
(Bloomberg) -- If Europe wants its mobile networks to be as
advanced as those in U.S., further wireless mergers are
necessary, CEO of Telefonica’s O2 unit, says in interview with
Bloomberg.
* European regulations need reforms to allow cross-border
mergers, which will support investment in new networks and
increasing wireless data use, Dunne said
* Bigger companies, like Telefonica and its peers with
operations in several countries, will then be in a
position to “roll up” some of the smaller operators
* “There’s a realization that you need in-country scale,
but you also need some European champions”
* “There’s a realization that you need in-country scale,
but you also need some European champions”</li></ul>
* NOTE: Telefonica agreed to sell its O2 unit in the U.K. to
Hutchison Whampoa for GBP10.25b last week
* “Scale is going to continue to be important and
increasingly important,” Dunne said, “we needed to be a
buyer or a seller”
* Dunne declined to comment on how a merged Three-O2 might
participate in cross-border deals
Full Story:NSN NM6PQD6VDKHU<GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporters on this story:
Jim Silver in New York at +1-212-617-7342 or
jsilver@bloomberg.net;
Amy Thomson in London at +44-20-3525-0662 or
athomson6@bloomberg.net
To contact the editors responsible for this story:
Andrea Snyder at +1-202-624-1831 or
asnyder5@bloomberg.net
Jay Miller