O2 (UK) billion (£2 per share) in cash. It went through finally in 2006. According to the merger announcement, O2 retained its name and continued to be based in the United Kingdom, keeping both the brand and the management team. The merger became unconditional on 23 January 2006. Following the acquisition of O2, Telefónica undertook a corporate organisational change that saw the merging of its fixed and mobile businesses in Spain, and the transfer of Telefónica's non-Spanish European telecommunications properties into the O2 brand. Thus, the Český Telecom and Eurotel operations in the Czech Republic as well as the Telefónica Deutschland business
O2 Czech Republic different lines of business: the retail operator O2 and the wholesale infrastructure provider CETIN. The separation includes commercial and managerial leadership and management of both companies, including security, IT and control systems. The company was initially known as SPT Telecom ("Státní telekomunikační podnik", state-owned telecommunications company), and used to have a monopoly for providing fixed-line services. It was reorganized and renamed Český Telecom (Czech Telecom), after the Velvet Divorce saw Czechoslovakia separate into the Czech Republic and Slovakia in 1993. Its mobile subsidiary, Eurotel, was founded in 1990 as a joint venture between SPT (51%) and the American joint-venture Atlantic