29th Jan 2015 11:41
LONDON (Alliance News) - Sky PLC Thursday announced plans to launch its first mobile services to customers in 2016, signing a multi-year deal with Telefónica UK Ltd for wholesale access to 2G, 3G, and 4G services over its 02 mobile network.
The move marks Sky's foray into a quad-play offering, and comes after rival BT Group PLC entered talks to acquire EE Ltd for GBP12.5 billion last December, instead of 02. BT had been in talks with both companies about a potential takeover.
Hong Kong-based conglomerate Hutchison Whampoa Ltd is currently in talks over a potential acquisition of 02 for an indicative price of GBP9.25 billion in cash.
Sky Thursday highlighted its success as a triple-play provider, saying that almost 40% of its customer base now take television, telephony and broadband services with Sky.
"Through our partnership with Telefónica UK, we can build on our expertise in content, innovation and service to launch a range of exciting new services and exploit the opportunities for growth in the fast-changing mobile sector," said Chief Executive Officer Jeremy Darroch in a statement.
Shares in Sky are trading down 0.2% at 936.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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