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O2 and Virgin Media merge to create £31bn giant

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Virgin Media and O2 are merging in a deal that will create a £31bn company, their parent firms have announced.

Mobile provider O2 is part of the Spanish firm Telefonica whose chief executive, Jose Maria Alvarez-Pallete, said: “Combining O2’s number one mobile business with Virgin Media’s superfast broadband network and entertainment services will be a game-changer in the UK, at a time when demand for connectivity has never been greater or more critical.

“We are creating a strong competitor with significant scale and financial strength to invest in UK digital infrastructure and give millions of consumer, business and public sector customers more choice and value.”




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