A report today in the Sunday Independent points to rumours that Three Ireland (part of Hutchison Whampoa) may be eyeing up a buy of O2’s Irish business. O2 Ireland reported poor results this week and its parent company Telefonica is heavily debt laden (to the tune of 56 billion euro). Telefonica has signalled it’s desire to offload under performing assets and with O2 Ireland’s customer numbers dropping year on year this could be an option. Three has previously indicated it’s desire to grow it’s Irish business, signing deals with BT Ireland for infrastructure and being aggressive with it’s price plans in the Irish Market. This could be a very interesting move for the irish market. Stay tuned for this developing story.

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