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,
O2 (UK) greet and direct visitors. Other smaller touches include changing the lighting, carpets and seats in the arena to the colour blue. The O2 Arena was the site of the artistic gymnastics events and medal rounds in basketball for the 2012 Summer Olympics. In February 2017, in a continuation of its agreement with AEG, the developers of the site, O2 announced that it had renewed its naming rights for a further ten years. Since 2008, O2 is partnered with Live Nation and the Academy Music Group, allowing O2 to rename the music venues. The partnership allows O2 to offer customers priority