Spain’s Telefonica (TEF.MC) said it had finalised a deal to sell its British mobile business O2 to Li Ka-shing’s Hutchison Whampoa for 10.25 billion pounds ($15.2 billion), confirming details announced earlier this year. Telefonica and Hutchison entered exclusive negotiations over O2 on Jan. 23. Hutchison already operates the Three Mobile network in Britain, and buying second-ranked O2, which has about 22 million subscribers, will make it the top mobile operator in the country.