Categories
Uncategorized

UK’s Virgin Media and O2 to merge in $38 billion deal

Source: Telefónica
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

The release notes that the merger will result ..

O2 Virgin Merge

O2 Virgin MergeSource: Telefónica

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

The release notes that the merger will result in £10 billion worth of investments in the UK over the next five years. CEO of Telefonica, Jose Maria Alvareze-Pallete 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 U.K., 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 U.K."

Twitter was rightly less enthused at the prospect:

LG Velvet is now official with Snapdragon 765 SoC, 48MP triple-camera setupLG Velvet is now official with Snapdragon 765 SoC, 48MP triple-camera setup

LG Velvet is now official with Snapdragon 765 SoC, 48MP triple-camera setup

LG's new Velvet is an impressive mid-range Android phone with a durable design, 48MP triple cameras, and 5G support. The phone also packs a 4,300mAh battery with wireless charging and fast wired charging.

Here's what you need to know about OnePlus' Warp Charge 30T and 30 WirelessHere's what you need to know about OnePlus' Warp Charge 30T and 30 Wireless

Here's what you need to know about OnePlus' Warp Charge 30T and 30 Wireless

Warp Charge 30T offers a sizable boost in charging speeds, with the 30W standard able to charge a battery from flat to 70% in just 30 minutes. With the OnePlus 8 Pro, OnePlus has introduced Warp Charge 30 Wireless, a wireless charging standard that delivers 30W charging speeds. Here's everything you need to know about OnePlus' Warp Charge standard.

Daily Coronavirus updates: Tinder is getting video dating from next quarterDaily Coronavirus updates: Tinder is getting video dating from next quarter

Daily Coronavirus updates: Tinder is getting video dating from next quarter

COVID-19 has caused untold devastation around the globe, with entire industries shutting down in the wake of the virus. Here's how coronavirus is affecting the tech industry.

The Galaxy S20+ is the best T-Mobile phone for most peopleThe Galaxy S20+ is the best T-Mobile phone for most people

The Galaxy S20+ is the best T-Mobile phone for most people

Wondering about the best phones T-Mobile offers? We've got you covered.

Original Article

Leave a Reply

Your email address will not be published. Required fields are marked *