CK Hutchison is exploring a sale of its Three Ireland mobile business, according to people familiar with the matter. The company has held preliminary discussions with Liberty Global, which already owns cable operator Virgin Media in the UK and Ireland.

This potential transaction would mark CK Hutchison's latest move to exit European telecoms holdings. The company has been steadily reducing its telecommunications portfolio across developed markets, focusing instead on infrastructure and energy assets in Asia.

Three Ireland holds roughly 12% market share, making it the country's fourth-largest mobile operator. Any deal would likely attract interest from consolidation-focused buyers. Analysts suggest values could reach $2-3 billion depending on deal structure and synergies.

A sale could provide Liberty Global with expanded wireless capabilities to bundle with its broadband services. Regulatory approval would be required given Ireland's competitive telecom environment. Deal terms remain fluid.