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BUYOUT: Telefónica O2 sells O2 Asia to the Management
Posted by Arne Hess - on Friday, 02.11.07 - 10:57:21 CET under 01 - General News - Viewed 19820x
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As CNet Asia reports today, European 2G and 3G carrier Telefónica O2 is exiting its device business in Asia and the current regional management team around O2 Asia's CEO Mark Billington is taking over O2 Asia under a new name. According to an O2 spokesperson, the transition has begun already and will be completed in "a matter of months".
The new company, which is called "Mobile and Wireless Group (MWG)" got a potential investor already, namely Expansys (in the U.S. known under its brand name "Mobile Planet") and Mark Billington will assume an equivalent role in the new company.

While MWG will take over O2 Asia's service and warranty obligations the company will also continue to supply Windows Mobile PDAs and smartphones to the Asian market and new website already online where the new company unveils an upcoming launch of a new Xda Atom 4, Xda Flame 2 and Xda Zinc 2:

According to CNet Asia, O2 Asia's parent company, Telefónica O2 Europe, decided to wind down its "non-core asset" (O2 Asia was a hangover from the old BT Cellnet/BT days before BT Cellnet became O2 UK), following a strategic review, according to a company statement.

Cheers ~ Arne

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