O2's brand could survive the company's expected takeover by Hutchison Whampoa, parent company of rival mobile broadband provider Three.
Hong Kong-based Hutchison remains in exclusive talks with Telefonica, O2's Spanish parent company, over a £10.3 billion acquisition.
This deal would create the UK's largest single mobile operator, with 32 million individual customers in total.
This would be four million more than EE, which will become part of BT subject to regulatory approval, and 12 million more than Vodafone.
However, as reported by the Telegraph, it is far from certain that O2 and Three will join together under a single banner in the UK market.
Ronan Dunne, O2’s Chief Executive, said it is yet to be decided if Hutchison will run a multi-brand strategy involving both Three and O2.
However, he pointed to O2's high customer satisfaction ratings as being a strong incentive for retaining the company's identity.
The most recent Ofcom survey, conducted between July and September 2014, revealed O2 to have a 78 per cent customer approval rating.
This satisfaction score eclipsed those achieved by Virgin Mobile (76 per cent), Vodafone (71 per cent) and EE (69 per cent) during the same period.
Crucially, it was also significantly higher than the 70 per cent rating achieved by Three during Q3 2014 - a factor that may come into play when Hutchison decides on its UK strategy.
The fact that O2 continues to achieve customer growth and increase revenues in the UK market might also prove influential.
The company added 830,000 new mobile customers during 2014, including 291,000 during the final three months of the year.
This represented its best customer growth in a single quarter in six years.
O2 also saw a spike in revenues between October and December 2014, with takings rising by 3.2 per cent to £1.5 billion.