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Virgin and O2 s $44 billion telecoms merger cleared by UK competition watchdog

Virgin and O2 s $44 billion telecoms merger cleared by UK competition watchdog CNBC 2 hrs ago Ryan Browne Virgin Media and O2 s £31.4 billion ($44.4 billion) merger has been approved by U.K. competition regulators. The Competition and Markets Authority said the deal was unlikely to lead to a substantial lessening of competition. The merger between the two companies will lead to the creation of a new giant in the U.K. telecoms industry. © Provided by CNBC A person walks past a Virgin Media mobile phone store, closed down due to the Covid-19 pandemic, in London on May 4, 2020. LONDON Virgin Media and O2 s £31.4 billion ($44.4 billion) merger has been approved by U.K. competition regulators.

Britain clears $44 bn Virgin-O2 mobile merger deal

Britain clears $44 bn Virgin-O2 mobile merger deal Published: 8:18 PM, May 20, 2021 SHARE LONDON: Britain s competition regulator cleared a $44 billion merger between broadband company Virgin Media and Telefonica s UK mobile network O2 on Thursday, after a months-long review. Virgin owner Liberty Global and Spain s Telefonica agreed the merger a year ago, creating a powerhouse in broadband and mobile to take on market leader BT. After looking closely at the deal, we are reassured that competition amongst mobile communications providers will remain strong and it is therefore unlikely that the merger would lead to higher prices or lower quality services, Martin Coleman of the Competition and Markets Authority (CMA) said.

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