Telefónica could now decide to keep O2 UK rather than seek a new buyer or list the unit on the stock market according to Bloomberg.
The Sky group could play a pivotal role in future deals both for O2 in the UK and Wind in Italy, according to reports.
O2 UK could be the subject of an £8.5 billion (€10.7 billion/$12.2 billion) management buyout following the collapse of CK Hutchison's bid for the mobile operator, according to the Telegraph.
Unless you have, as the well-worn saying goes, been holidaying in Mars in recent days you will no doubt be aware that there is one unhappy businessman in Hong Kong. Li Ka-shing, the chairman of CK Hutchison, has been foiled in his attempt to create a new mobile monster after the European Commission decided to block his plan to buy O2 UK and merge it with Three UK.
The European Commission (EC) confirmed it will block CK Hutchison's plan to buy O2 UK and merge it with Three UK, citing competition concerns as its reason.
EE, the UK-based mobile operator recently acquired by BT, has pledged to cover 95 per cent of the UK landmass with its 4G network by 2020 in an effort to reduce the number of mobile broadband "not spots" around the country.
Ovum said the popularity of quad-play services in Europe has been damaging for pure-play mobile operators, which tend to be the smallest operators in their respective markets.
Telefónica is considering alternative options to the planned sale of its O2 UK business to CK Hutchison, as hopes that the European Commission will approve the merger proposal continue to recede.
Vodafone and EE are not coming up to scratch when it comes to the quality of their customer services, with the latest in a regular poll by Which? placing them in joint 10th position for overall customer satisfaction and ranking them just ahead of international calls provider Lebara.
CK Hutchison has not been able to convince European Union antitrust regulators that its deal to buy O2 UK will be of benefit to the market, with reports saying the proposed £10.25 billion (€12.8 billion/$14.5 billion) transaction is expected to be formally blocked within weeks.