‘We’re ready to shake up the market’: Virgin Media O2 brand launches today after multi-billion pound merger
- Virgin Media and O2’s £31bn merger has launched in the UK today
- The business is now one of the UK’s largest with 47m connections
- It has committed to investing at least £10bn in the UK economy in 5 years
Telecom giants Virgin Media and O2’s £31billion merger has launched today with the newly formed firm promising to help power the nation’s recovery after coronavirus.
Representing the biggest UK merger in a decade and the largest UK telecoms deal ever, Virgin Media O2’s parents companies Liberty Global and Telefónica were given the green light for the joint venture last week.
The Competition and Markets Authority approved the deal following an in-depth investigation, concluding that concerns customers would see price hikes from the telecoms deal were unfounded.
The new business becomes one of the UK’s largest, with 47million connections across broadband, mobile, TV and home phone.
Virgin Media and O2’s merger has launched today with the firm promising to invest £10bn
Nothing changes for Virgin Media and O2 customers as of today and they will be able to access all services in the same way as before both in store and digitally.
However, new, joint services will be launching soon.
Virgin Media O2 has also committed to invest at least £10billion over the next five years in the UK.
The investment will see the business contribute to the Government’s connectivity targets, upgrading infrastructure in more parts of the country and bringing more choice and competition to many areas that need it most.
This includes building on its existing fibre network expansion activity and bringing 5G services to new areas across the nation – including around 200 towns and cities by the end of June.
Nothing changes for Virgin Media & O2 customers today & they can access services as normal
Lutz Schüler, chief executive of Virgin Media O2, said: ‘We are ready to shake up the market and be the competitor the country needs at a time when choice has never been more important.
‘Through investment and innovation in cutting-edge infrastructure and future technology, we will connect more people to the things they love, support communities across the country, help businesses to grow, and power the UK economy.
‘We’re here to upgrade the UK – and our mission starts today.’
Since the merger was announced in May 2020, Virgin Media has increased its number of UK jobs and, by the end of this year, the new joint business will have created almost 2,000 new UK roles.
To bring new opportunities to people across the nation the company will also create 1,000 apprenticeships.
Its own fixed network currently passes 15.4million premises alongside a mobile network that covers 99 per cent of the nation’s population with 4G and 180 towns and cities with 5G services.