Hutchison and Telefonica set to close O2 deal for $15.7 billion: FT

(Reuters) - Hutchison Whampoa Ltd is expected to finalize a deal to buy Telefonica SA's British mobile unit O2 for 10.5 billion pounds ($15.70 billion) as early as Tuesday morning, the Financial Times reported. Owned by Asia's richest man, Li Ka-shing, Hutchison is in talks with sovereign wealth funds including China Investment Corporation, Singapore's Temasek and GIC, and one of Qatar's big government-sponsored vehicles to provide a significant portion of the financing.

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