UK's Virgin Media and O2 to merge in $38 billion dealLiberty Global and Telefónica are merging their U.K operations.
What you need to know
Two of the UK's biggest telecoms companies are merging.
O2 and Virgin Media are joining forces in a 50-50 venture.
The deal is said to be worth some £31 billion ($38 billion).
Telefónica has today announced that it is merging its U.K operations with Liberty Global, meaning that Virgin Media and O2 are coming together in a 50-50 joint venture.
A press release from the company:
Liberty Global and Telefónica to merge their U.K. operations creating the leading fixed-mobile provider in the country
Key Highlights
50-50 joint venture brings together Virgin Media, the U.K.'s fastest broadband network, and O2, the country's largest mobile platform
Combination creates a stronger fixed and mobile competitor in the U.K. market, supporting the expansion of Virgin Media's giga-ready network and O2's 5G mobile deployment for the benefit of consumers, businesses and the public sector
...
Source:
UK's Virgin Media and O2 to merge in $38 billion deal
