Telefonica denies rumours of possible sale of Irish business

Spanish giant Telefonica has refuted suggestions it is considering the sale of its EUR800 million (USD1.08 billion) Irish mobile operation, O2 Ireland, following a report in the Sunday Independent that the Irish business was quietly offered to a select group of trade buyers before Xmas. A spokesman for the Madrid-based firm said: ‘Telefonica confirms that its Irish business is not for sale.’ The paper links Hong Kong telecoms conglomerate Hutchison Whampoa with a possible bid for O2 Ireland. Hutch it says, is keen to expand its fast-growing 3 Ireland 3G mobile business. 3 Ireland declined to comment on the speculation.