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3G bids €780m for O2

Hutchison 3G's Irish arm has received a €780m cash injection from a newly-formed UK group as it tries to push its planned takeover of O2's operations here over the line. Hutchison 3G has offered to pay €780m for the business.

New filings at the Companies Office show that Hutchison 3G Ireland has received €780m within the past three weeks from the newly registered UK firm Hutchison 3G Ireland Holdings.

The transaction was completed on March 24 – just days after 3 Ireland pledged to establish a new mobile operator in an effort to persuade the European Commission to allow it to buy O2 Ireland, which is owned by Spain's Telefonica group.