U.K. Gives Green Light to $44 Billion Merger of Virgin Media and O2
Virgin Media and Virgin Mobile with cell-phone company O2. The deal is reported to be valued at £31 billion ($44 billion).“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,” said CMA spokesman Martin Coleman, who headed a special panel which investigated the proposed deal.The merger would bring together a company with 46 million video, broadband and mobile subscribers, including 3.7 million pay-TV subscribers, 5.3 million broadband customers, 4.6 million fixed-line voice subscribers, and 32 million mobile subscribers.