Virgin Media to join forces with O2
Liberty Global and Telefónica have reached an agreement today which means Virgin Media is set to join forces with O2, combining the UK’s fastest broadband network and the country’s largest mobile platform.
Fast, reliable connectivity has never been more important. From the ability to work and learn from home, stay connected with loved ones, and support our communities, the combination of O2 and Virgin Media will deliver transformational benefits for customers, employees and the wider economy.
It will give customers greater choice, better value and access to innovative products. It will create a stronger competitor in the UK 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.
The fully converged platform will put customers first and have the scale to innovate in the changing digital landscape, investing £10 billion in the UK over the next five years.
It unites two companies that have shared values, high quality talent and a passion for connecting people and businesses. The combination of two of the UK’s most recognisable brands in Virgin Media and O2 is going to create a national connectivity champion that will be a true competitive powerhouse.
Lutz Schüler, CEO of Virgin Media, said: “Together, with our fast growing gigabit broadband and 5G mobile networks, alongside a top TV service, we’ll keep investing to provide high quality next-generation connections to consumers, businesses and public services across the UK. Customer-first values will remain at the heart of our businesses, ensuring we establish a real converged challenger.
“For Virgin Media, this blending of in and out-of-home connectivity is something that we’ve been building momentum on for some time, so today is the beginning of something very special for our people, our customers and the whole country.”
The merger is expected to close around the middle of 2021 and is subject to regulatory approvals.
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