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Hutchison looks to bring in minority partners for Telefonica's UK unit deal

Reuters - UK Focus

HONG KONG, Jan 23 (Reuters) - Hutchison Whampoa Ltd group finance director Frank Sixt said on Friday the company is in talks with private equity firms among others to offer a minority stake in its planned bid for Telefonica's British unit O2.

Earlier, Hutchison (HKSE: 0013-OL.HK - news) confirmed that it was in exclusive talks to buy O2 for up to 10.25 billion pounds ($15.4 billion) as Asia's richest Li Ka-shing makes his biggest bet to consolidate his European telecommunications operations..

The deal, which is subject to regulatory approval, will be funded using a 6 billion pounds bank loan, Sixt (Swiss: SIX2.SW - news) told reporters.

He added the group was reasonably confident of securing European regulatory approval for the transaction. ($1 = 0.6671 pounds) (Reporting by Denny Thomas)