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.
Liberty Global CEO Michael Fries 2020 Pay Falls to $44 9 Million
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Telecoms company Sunrise to axe 600 jobs - Expat Guide to Switzerland
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