Telefonica is a broadband and telecommunications operator in Spain, operating since 1924 and most commonly known through brands such as O2 and Vivo.
The company owns significant telecoms assets outside of Spain, including the O2 network in UK and Ireland, the Telefonica Germany network in Germany and a joint venture with Bouygues Telecom in France.
Telefonica attempted to sell off the UK-based O2 network to Hong Kong-based telecoms conglomerate Hutchinson Whampoa. This would have combined the O2 and Three networks to create the largets UK operator by subscribers.
Why could Telefonica not sell O2?
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