Liberty Global is in advanced talks to acquire Three Ireland from CK Hutchison in a deal valued at up to €1.5 billion, according to reports.
The move would give Virgin Media Ireland’s owner a full mobile network operation in the market, having so far relied on an MVNO arrangement for Virgin Mobile. UPC Ireland (now Virgin Media Ireland) signed its MVNO agreement with Three in 2014 ahead of its mobile launch, and Virgin Media continues to sell mobile services delivered via Three’s network.
In the UK, Virgin Media benefits from the O2 mobile network of part-owner Telefonica.
For CK Hutchison, a sale would add to a broader reshaping of its telecoms footprint in Europe. The group completed the merger of Vodafone UK and Three UK last year in a £16.5 billion deal (€19.0 billion, based on ECB reference-rate maths), leaving it with a 49% stake in the new VodafoneThree venture, and has also been examining options including a potential IPO of its telecoms assets.
The same reports suggest Hutchison has also looked at potential disposals of its operations in Sweden and Denmark, while keeping Italy’s Wind Tre as a core asset within any wider listing plan. Separately, Reuters has reported that CK Hutchison has explored a possible tie-up between Wind Tre and Iliad’s Italian business, though any deal would face regulatory scrutiny.
