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,
The O2 The O2 The O2 is a large entertainment district on the Greenwich peninsula in South East London, England, including an indoor arena, a music club, a Cineworld cinema, an exhibition space, piazzas, bars and restaurants. It was built largely within the former Millennium Dome, a large dome-shaped canopy built to house an exhibition celebrating the turn of the third millennium; consequently "The Dome" remains a name in common usage for the venue. It is sometimes referred to as The O2 Arena, but that name properly refers to a smaller indoor arena within The O2. Naming rights to the district were