The £31bn 50-50 joint venture will create new ‘national champion’ to challenge BT
The UK’s competition watchdog has provisionally cleared the £31bn merger of Virgin Media and O2, paving the way for the creation of a “national champion” to challenge BT.
Last May, Liberty Global, which owns the UK’s largest cable company, Virgin, and Telefónica, which owns O2, announced a deal to merge their UK operations in a 50-50 joint venture.
