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Report: Hutchison in talks with Sky, Virgin Media amid Three-O2 deal review

CK Hutchison Holdings Ltd. is expected to offer more concessionsin order to secure the European Commission's approval of Hutchison 3G UK Ltd.'s proposed acquisition ofTelefónica SA's operator unit O2, the Financial Times(London) reported April 6.

Hutchison will reportedly propose the sale of a fifth of itsnetwork capacity to Sky plcand offer 10% of the combined network to LibertyGlobal plc's Virgin MediaInc.

British grocery giant Tesco could also launch a full takeover bid of Tesco Mobile, its mobile virtualnetwork operator joint venture with O2, which will help secure Hutchison a favorableantitrust ruling from Brussels.

The proposed deal will reduce the U.K.'s operators from fourto three.

Hutchison, Sky and Virgin Media reportedly declined to commenton the talks.