Telefonica wins majority share support for O2 takeover

Spanish telecoms giant Telefonica today said that a majority of shareholders in UK mobile phone firm O2 had accepted its £17.7bn (€25.7bn) takeover offer.

Telefonica said that O2 investors owning 62.72% of shares has indicated their support for its bid by midday yesterday and it was extending the closing date for acceptances by eight days to January 20.