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Tesco is planning to take advantage of the fall-out from Hutchison's £10.25 billion takeover of O2 with a big push in the UK mobile market, seeking to expand sales outside its tough groceries market and benefit from looming upheaval in the telecoms sector.
Since 2003 Tesco has held a 50% share in O2, but the supermarket giant is now looking to take the remaining share.
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Tesco is planning to take advantage of the fallout from Hutchison’s £10.25bn takeover of O2 with a big push in the UK mobile market, seeking to expand sales outside the tough groceries market.
The supermarket, which has had a 50:50 joint venture with O2 since 2003, is aiming to buy the portion of Tesco Mobile it does not already own and secure a long-term deal with Hutchison for capacity on the merged 3 and O2 networks, according to industry sources.
http://www.telegraph.co.uk/business/2016/03/08/tesco-seeks-deal-to-buy-o2-out-of-joint-venture-for-mobile-push/