O2 chief was set to step down if O2 had merged with Three, but operator has confirmed he will stay on following Brussels’ decision
Ronan Dunne will stay on in his role as O2 CEO following the decision by European watchdogs to block CK Hutchison’s proposed £10.25 billion acquisition of the operator from Telefonica.
The European Commission today (May 11) announced it prohibit Three-owner Hutch’s bid to form the UK’s biggest mobile operator by buying O2, citing competition concerns.
Had the deal gone through, Dunne would have stepped down from his post overseeing Telefonica’s UK business, with the merged entity being led by Three CEO dave Dyson.
Dunne announced his plans to step down back in September should the deal be approved.
Following the EC’s announcement, O2 confirmed to Mobile News that Dunne will now remain in his role as CEO.
A spokesperson said: “As the deal has been prohibited by the EC, nothing changes in relation to the running of O2 in the UK and Ronan remains CEO of O2.”