Telefónica Europe business was rebranded to 'O2 Online' which continues in the UK as a mobile communications service provider tied to the O2 UK network. The Genie portal properties were rebranded O2 Active in UK, Germany, Ireland and the Netherlands, and Genie Asia became O2 Asia. O2 Asia became a subsidiary of O2 UK for governance purposes. On 31 October 2005, O2 agreed to be taken over by Telefónica, a Spanish telecommunications company, with a cash offer of £17.7 billion, or £2 per share. According to the merger announcement, O2 retained its name and continued to be based in the United Kingdom,
Downe Communications controlling interest in the company to Charter for approximately $9 million in 1978. The company name was changed to Charter Data Services (CDS). Downe Communications Downe Communications was a publishing company founded by Edward Downe, Jr. that produced several popular magazines and provided subscription fulfillment services from 1967 to 1978. Downe was a trained journalist who worked at newspapers before becoming a magazine editor. In 1966, Downe purchased Family Magazine, a newspaper insert similar to Parade Magazine. He founded Downe Communications the following year. The company acquired the Ladies' Home Journal and The American Home in 1968 from Curtis Publishing