O2 (UK) first commercial General Packet Radio Service. BT Cellnet, together with BT Group's mobile telecommunications businesses in Germany, Ireland and the Netherlands, was part of the BT Wireless division. This was spun off from the BT Group in 2002 to form a new holding company, mmO2 plc, which introduced the new "O2" brand for the businesses. In 2005, mmO2 plc was renamed O2 plc. O2 plc was purchased by the Spanish telecommunications company Telefónica in 2006 for £18 billion. Under the terms of the acquisition, Telefónica agreed to retain the "O2" brand and the company's UK headquarters. O2 plc became Telefónica
The O2 in October 2018, completes the loop of The O2, adding an extra floor in parts and providing space for 85 stores. Brands that have signed deals to take space include handbags maker Aspinal of London, Calvin Klein, Hackett, Ted Baker, Gant and Levi’s. In late 2007, Marine engineering consultancy, Beckett Rankine, were appointed to investigate the possibility of a cruise ship terminal being built. In 2012 it was reported that the O2 would be sold by its owners, Anschutz Entertainment Group (AEG), as part of the disposal of the entire company's assets, rumoured to be valued around $7 billion. The