"Telecoms giant BT is in talks with Telefonica about buying the O2 mobile network from the Spanish firm.

All discussions are at a highly preliminary stage and there can be no certainty that any transaction will occur," said BT.

In 2002, BT spun off O2, then called BT Cellnet. In 2005 it was acquired by Spain's Telefonica for £17.7bn.

BT said it had also been approached by the owners of another network, believed to be EE, about a UK buy-out."

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http://www.bbc.co.uk/news/business-30178199