Virgin Media and O2 will merge in a £31 billion deal.
TOLGA AKMEN/AFP via Getty Images
Two of the UK’s biggest telecoms companies, O2 and Virgin Media, are merging to create a new telecoms giant, they confirmed on Thursday.
The £31 billion ($38BN) deal will see mobile operator O2, which is owned by Telefonica, and broadband operator Virgin Media, which is owned by Liberty Global become one company to create a rival to Sky and BT. The newly formed telecoms giant will be able to offer customers packages including entertainment, broadband and mobile. Subject to regulatory approvals, the transaction is expected to close around the middle of next…
Source CNET Tech
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