Hutchison Whampoa, parent company of 3, has acquired O2 Ireland from Telefonica for €780m (£665m).
The acquisition will immediately quadruple 3 Irelands market share to 37.5 per cent, making it the second largest operator in the country, with an aggregated 2m subscribers. In 2012, the two companies had combined revenues of €803m, with 3 making up just €174m of that.
“Our combined market share gives us the scale and financial strength to compete even more aggressively in the market to the benefit of consumers,” said 3 Ireland CEO Robert Finnegan. “Our ability to invest coupled with the combined subscriber base will create new competitive dynamics in the Irish telecoms market.”
Its not the first time Hutchison has made a play for expansion in Ireland. Last year, it made a €2bn bid for Eircom, owner of the countrys third largest operator, which was rejected. 
The deal also allocated an additional deferred payment of €70m, payable by Hutchison dependent upon achievement of agreed financial targets.
O2 Ireland, as the above numbers show, is by far the more successful of the two businesses, but its not too hard to see why Telefonica would be eager to make the sale. The Spanish telco is currently in debt to the tune of €52n dollars, a debt its hoping to cut to below €47bn by the end of the year.
