British mobile phone operator mmO2 today changed its named to O2.
The company, which trades under the brand name O2 Ireland in the Republic, sold almost 300 million shares to buy out many of its smaller shareholders as part of a restructuring.
O2 announced in January it was offering to buy out its small investors as part of a deal to reduce a fragmented shareholder base and allow it to pay a maiden dividend in August as part of the restructuring.
It said JP Morgan, Cazenove and Merrill Lynch would place 299.5 million shares to fund a cash alternative to smaller shareholders.
The shares, worth about £380 million, represent around 3.4 per cent of O2's issued share capital.
