New offices will be near Vodafone Group London HQ Virgin Media O2 is moving to a new state-of-the-art UK headquarters in Sheldon Square, Paddington Central (above). This announcement comes as Virgin Media O2 reports its 2022 financial results – its first full-year results since the business was formed on 1 June 2021. The full-year figures
Virgin Media O2 is to close its two main sites in Hammersmith and Slough in favour of a new state-of-the-art UK headquarters in Paddington Central. The company, created through the combination of Liberty Global’s Virgin Media with Telefonica’s O2 has conducted a comprehensive review of its property portfolio. Hammersmith and Slough will close by the…
Liberty Global and Telefonica Welcome Final UK Regulatory Approval for Virgin Media-O2 Joint Venture streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Liberty Global s (LBTYA) JV With Telefonica Gets U.K. Approval Zacks.com 4 hrs ago
Liberty Global LBTYA and Telefonica’s 50:50 joint venture to combine Virgin Media and O2 received approval from the U.K.’s Competition & Markets Authority or CMA on May 20. The transaction is now expected to be completed by Jun 1, 2021.
Liberty Global and Telefonica announced the joint venture in May, 2020. The deal valued Virgin Media at £18.7 billion (including £11.3 billion of debt) and O2 at £12.7 billion.
The deal that combines Virgin Media and O2, the U.K.’s fastest broadband network and leading mobile operator, respectively, is expected to generate £11 billion in revenues and synergies worth £6.2 billion on a net present value basis after integration costs. Moreover, OCF and OFCF are expected to be $3.70 billion and $1.57 billion, respectively.
O2 and Virgin Media joint venture approved by UK regulator
May 20, 2021 12:32 EDT with 0 comments
O2 has announced that the UK’s Competition & Markets Authority has approved a 50:50 joint venture between Liberty Global, which owns Virgin Media, and O2. The mobile carrier said that the regulator agreed to the deal under the original terms and the transaction is now expected to close on June 1.
The joint venture will allow O2 and Liberty Global to deliver a nationwide integrated communications network that records £11 billion in revenue. O2 currently has one of the biggest mobile customer bases in the UK and is rolling out speedy 5G connectivity while Virgin Media is rolling out its Gig1 gigabit fibre to premises around the country.