8 May 2015, Singapore – GIC will invest £1.1 billion alongside four other institutional investors to acquire 33% of the combined businesses of Three and O2 UK for £3.1 billion. The other institutional investors are Canada Pension Plan Investment Board, Limpart Holdings Limited, a wholly owned subsidiary of the Abu Dhabi Investment Authority, Caisse de dépôt et placement du Québec and BTG Pactual of Brazil.

GIC’s investment is conditional on and will occur concurrently with the completion of Three UK’s acquisition of O2 UK and the combination of both businesses, which are subject to EU regulatory approvals. The full proceeds of the investments will be used, together with a committed Bank Facility of £6 Billion, to fund the O2 UK acquisition from Telefonica.