The UK’s Competition & Markets Authority (CMA) today announced its final approval of the 50:50 joint venture between Liberty Global and Telefonica to combine Virgin Media and O2. The CMA cleared the transaction without remedies and now all regulatory conditions are met in alignment with the original terms and the transaction is now expected to close by June 1, 2021.
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The Joint Venture between Virgin Media and O2 has completed today. While there are no changes to existing services, Virgin Media O2 is preparing to offer converged broadband, entertainment and mobile services in one place later this year. By the end of this year, the new joint business will have created almost 2000 new UK roles and will also create 1,000 apprenticeships