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Last Updated: Friday, 10 February 2006, 09:48 GMT
O2 exits stock market next month
O2 store
O2's days on the stock market are numbered
Mobile phone firm O2 is set to exit the UK stock market next month following its 17.7bn ($31.6bn) takeover by Spanish telecoms giant Telefonica.

Telefonica is close to completing the deal after investors holding 88% of shares backed the takeover.

Having also bought O2 shares worth 8%, Telefonica now effectively controls just under 97% of the firm's shares.

Telefonica said it expected shares in O2, which has more than 27 million customers, to cease trading on 7 March.

The last remaining obstacle to the deal was cleared last month when the European Commission approved the transaction.

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