|
|
O2 Sells UK Landline and ISP Services to Sky TV
Published on:
Telefonica O2 has sold its UK landline internet service provider and landline telephone services to Sky TV, for £180 million. The transaction will make Sky the second-largest provider in the UK broadband market.
O2 UK's consumer broadband and fixed-line telephony customers (O2 and BE), of which there are currently over half a million, will become Sky customers for those services on completion.
An extra contingent amount, not exceeding £20 million, may be payable dependent upon the successful delivery and completion of the customer migration process by Telefónica UK. Post completion, O2 and BE customers will be migrated onto Sky's network, supported by a nationwide all-fibre core, which reaches 84% of all UK homes.
Sky currently has around 4.2 million broadband customers and 4 million telephony customers.
The acquisition will be funded from existing cash reserves and is expected to be accretive to earnings per share in the second full year of ownership.
|
| |
|
| |
|
| |
|
| |