Telefonica Group of Spain has agreed to sell the service provider's second-largest mobile O2 UK to Hutchison Whampoa company of Asia's richest billionaire Li Ka-shing, the agreement amounted to 10.25 billion pounds ($ 15.4 billion equivalent).
Hutchison Whampoa company, based in Hong Kong, owns a home network in the UK is Three.
With this deal, the combination of O2 and Three will create the largest mobile group Land of Mist.
However, the agreement between Telefonica and Hutchison Whampoa still need to be competitive agency of the European Union (EU) and through this process may take up to a year.
Many experts say the deal could also face barriers from the EU authorities for fear would reduce competition between operators in the UK and this may not be beneficial for the client .
Currently the mobile services market in the country is under the control of the four major carriers, including O2, EE (Everything Everywhere), Vodafone and Three, in which EE largest market share with 29%. If the deal is approved, the market share of the new combined network O2 and Three will be 41%.
Hutchison Whampoa addition, billionaire Li Ka-shing, 86, was the boss of the company Cheung Kong Holdings.
Currently he is planning to merge the two companies together, focusing on the energy sector, ports and telecommunications.
Field of real estate will be transferred to his new company and this company will be listed on the Hong Kong stock market.
In recent years, Mr. Li Ka-shing has invested over 20 billion pounds (30 billion USD) in acquisitions, mergers abroad.
Earlier this year, he has agreed to acquire the company Eversholt Rail Train Services Group of the UK, with contracts worth 1.1 billion pounds (about 1.65 billion US dollars).