Liberty Global is in talks to acquire Three Ireland from CK Hutchison.

The Financial Times reports that negotiations are at an advanced stage, as Three-owner CK Hutchison continues to offload its European telecoms businesses.

The FT reports that a sale of Three Ireland could be valued at up to €1.5 billion ($1.76bn), according to New Street Research estimates.

Three Ireland serves more than five million mobile customers.

CK Hutchison is currently considering plans to explore an IPO of its telecoms assets, with London said to be the most likely location for a listing. Hong Kong or Amsterdam could also be options.

The Hong Kong-based conglomerate owns a number of other European telcos, including Italian operator WindTre, and has a 49 percent stake in UK telco VodafoneThree, a JV which was finalized last year.

Three also operates mobile networks in Austria, Sweden, and Denmark.

Liberty Global owns a number of telecoms companies, including 50 percent stakes in Virgin Media O2 in the UK and VodafoneZiggo in the Netherlands. The company also owns Belgian telco Telenet and has a stake in UK broadcaster ITV.

Liberty Global is also in talks over a deal to acquire Vodafone's 50 percent stake in VodafoneZiggo.