Hola new Spanish O2!

If you're an O2 punter you'll soon be paying your bills to a new company. Today the huge Spanish telco Telefónica agreed to buy O2 for a cool £17.7 b

If you're an O2 punter you'll soon be paying your bills to a new company.

Today the huge Spanish telco Telefónica agreed to buy O2 for a cool £17.7 billion pounds to 'gain economies of scale' across Europe.

For now, the move's unlikely to affect anyone on an O2 contract - O2's staying in the UK and there won't be reams of men in overalls repainting store fronts across the nation - but in the long-term there could be a few Joe Public benefits.

The most obvious is likely to be cheaper roaming charges while abroad thanks to Telefónica's international clout. An O2-branded Wi-Fi network in the UK wouldn't be one to rule out, either, as Telefónica has an impressive network of hotspots on the continent. It'd put O2 on a more even standing with the German-owned T-Mobile, which already has both 3G and Wi-Fi networks.

An O2 takeover has, of course, been on the top-up cards for a while now if you've been listening to mobile phone gossip. Why so? The main two reasons were the company's relatively small size and quality handsets such as Stuff faves including the QWERTY 3G Exec (pictured), the lust-worthy Samsung D600 and the sharp-shooting Sony Eric K750i.

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