Liberty Global and Telefónica to merge their British operations O2 and Virgin Media in a £31.4B agreement.
“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.”
José María Álvarez-Pallete, chairman and chief executive of Telefónica
By merging these businesses there will be £540m worth of synergies by stripping out costs and moving Virgin Media’s existing 3m mobile customers from EE to O2’s network.