Hong Kong Tycoon Li Ka-shing In Talks To Buy O2 For £10bn

Asia's richest person Li Ka-shing is in talks to buy Britain's second-largest mobile provider O2 for up to £10.25bn ($15.4bn) from Spain's Telefonica.

His firm, Hong Kong-based Hutchison Whampoa, already owns the Three mobile network, and combining it with O2 would create the UK's biggest mobile group.

However the move would reduce the number of major operators in the UK from four to three, which might not benefit consumers. Currently the UK mobile market is dominated by O2, EE, Vodafone and Three