News Articles

O2 and Virgin Media to merge in UK

Two of the world's communications giants have agreed to merge their UK operations. Liberty Global will combine its Virgin Media UK broadband network with Telefonica's O2 UK mobile business. The 50-50 joint venture values O2 at £12.7 billion and Virgin Media at £18.7 billion.

The resulting fixed-line and mobile communications business will have a total of 46 million video, broadband and mobile subscribers. Virgin Media’s mobile traffic will be migrated to Telefonica UK's network.

In 2016, a bid by Hutchison Whampoa to merge its Three UK network with O2 in the UK was blocked by the European Commission on competition grounds.

Jose Maria Alvarez-Pallete, Telefonica’s Chief Executive Officer, said "Combining O2's number one mobile business with Virgin Media’s superfast broadband network and entertainment services will be a game-changer in the UK, at a time when demand for connectivity has never been greater or more critical. We are creating a strong competitor with significant scale and financial strength to invest in UK digital infrastructure and give millions of consumer, business and public sector customers more choice and value. This is a proud and exciting moment for our organisations, as we create a leading integrated communications provider in the UK."

Liberty Global and Telefonica expect the deal to be completed around mid-2021, subject to regulatory approval and other conditions being met.

Print
Author: The Fonecast
0 Comments
Rate this article:
No rating

Leave a comment

This form collects your name, email, IP address and content so that we can keep track of the comments placed on the website. For more info check our Privacy Policy and Terms Of Use where you will get more info on where, how and why we store your data.
Add comment

Follow thefonecast.com

Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«August 2022»
MonTueWedThuFriSatSun
25262728293031
1234567
891011121314
15161718192021
22232425262728
2930311234

Archive

Terms Of Use | Privacy Statement