Liberty Global and Telefonica on Thursday announced an agreement to merge their operating businesses in the U.K. to form a 50:50 joint venture, creating a leading fixed-mobile provider in the country.
The combination of Virgin Media and O2 will create a nationwide integrated communications provider with over 46 million video, broadband and mobile subscribers and £11 billion of revenue.
By combining Virgin Media’s market-leading v6 video service and giga-ready broadband network, together with O2’s 5G ready mobile propositions, U.K. consumers will enjoy the highest-quality customer experience possible, said both the companies in a statement.
In addition, the JV will become a leading challenger in the B2B space as the combination will accelerate the adoption of converged fixed-mobile services to Virgin Media’s and O2’s existing business customers and offer new services.
Mike Fries, CEO, Liberty Global
Virgin Media has redefined broadband and entertainment in the U.K. with lightning fast speeds and the most innovative video platform. And O2 is widely recognized as the most reliable and admired mobile operator in the U.K., always putting the customer first.
Jose Maria Alvarez-Pallete, CEO, Telefonica
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.
