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In Money Matters

Biggest telecom merger in Britain in progress

7th May 2020 David Stevenson DMCA.com Protection Status

Biggest telecom merger in Britain  in progress Pin It

Cable and telecom giants Liberty Global and Telefónica are merging their UK operations into the UK’s largest telephone and internet company. The merger of Virgin Media and 02 results in a new company worth £ 31 billion.

The merger, which has been underway since November, will save over £6 billion in costs. The deal should be completed by mid-2021.

Both Virgin Media and O2 will provide half of the company’s 8-person board. The chairman position will rotate every two years.

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