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Li Ka-shing's Hutchison says offers up to $15.4 bln for Telefonica's O2 UK

Reuters - UK Focus

HONG KONG, Jan 23 (Reuters) - Li Ka-shing's Hutchison (HKSE: 0013-OL.HK - news) Whampoa Ltd said on Friday it had entered into exclusive talks to buy Telefonica's > British mobile unit O2 for up to 10.25 billion pounds ($15.4 billion).

Hutchison, which already operates the Three Mobile network in Britain, agreed to pay an indicative price of 9.25 billion pounds, the company said in a securities filing to the Hong Kong stock exchange. The company said it would add another 1 billion pounds in "interest sharing payments" should the combined business reach certain cash flow targets. ($1 = 0.6663 pounds) (Reporting by Elzio Barreto; Editing by Alex Richardson)