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o2 Mobile Network bought by Telefonica

The Register announces O2 has agreed to sell to a spanish network.

O2 has agreed to be bought by Telefonica for £18bn as the Spanish telco looks to expand its operations into UK and Germany.
Mobile outfit O2 - which split from BT in 2001 - will retain its bubbly brand and keep its HQ in the UK. If all goes to plan and the deal get the thumbs up from regulators, it should be all wrapped up early next year.

What does this mean for UK mobile phone customers - probably not much really, pure speculation says maybe some cheaper calls when on holiday in Spain. Probably not though.

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