Tesco interested in buyout of O2 JV


The Tesco Mobile MVNO formed in 2003 and currently has over 4.5 million customers

Tesco has expressed interest in becoming its own MVNO by purchasing the remaining share of its joint venture with O2.

The supermarket chain and network have held a 50:50 JV in the Tesco Mobile service since 2003. Over 4.5 million customers are currently connected to the MVNO.

Tesco is supposedly interested in purchasing the remaining 50 per cent share in the JV. Reports in the Telegraph claim Tesco made its intentions known at a hearing about Hutchison’s £10.25 billion O2 takeover. O2’s share could cost Tesco up to £300 million.

A Tesco spokesperson said: “Tesco is an interested party in the merger review process. It is important that any landscape created by the merger process allows challenger brands, such as Tesco Mobile, to deliver the best possible services for UK customers, and champions consumer choice.”