Hutch agrees to buy O2, talks to SWFs

Hutchison Whampoa agrees to pay up to £10.25 billion for Telefonica's O2 and is in talks with sovereign wealth funds about offloading a stake of up to 30% in the UK mobile phone group.

Li Ka-shing-controlled Hutchison Whampoa has agreed to pay up to £10.25 billion ($15.2 billion) for UK mobile phone firm O2.

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