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UK Approves $44B Merger Between Liberty Global-Owned Virgin Media & Mobile Company O2

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deadline.com
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The UK’s Competition and Markets Authority (CMA) has approved the £31 billion ($44B) merger between Liberty Global-Owned Virgin Media and telecoms giant Telefonica’s British mobile company O2.Following regulatory clearance, Virgin Media and O2 will complete their transaction on June 1.

Virgin Media CEO Lutz Schüler will become chief executive of the new company, while O2’s CFO Patricia Cobian will take on the same role at the merged venture.The two companies will form a 50:50 joint venture, which Liberty Global and Telefonica hopes will become an internet and mobile powerhouse as demand for super-fast broadband grows and 5G rolls out across the UK.The combined companies will have 46M video, broadband and mobile subscribers in the UK, while

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