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The Virgin Media O2 merger was officially launched a few days ago. The new business will be known as ‘Virgin Media O2’ and becomes one of the UK’s largest with 47 million connections across broadband, mobile, TV and home phone. It employs around 18,000 people and reported equivalent revenue of £11 billion last year.
CEO of the joint company Luts Schüler said:
“With the fastest broadband and most reliable mobile network in the UK today, Virgin Media O2 is the complete package. We are ready to shake up the market and be the competitor the country needs at a time when choice has never been more important.
Through investment and innovation in cutting-edge infrastructure and future technology, we will connect more people to the things they love, support communities across the country, help businesses to grow, and power the UK economy.
With no limit to our ambition, we’re here to upgrade the UK – and our mission starts today.”
The company says it has committed to invest at least £10 billion over the next five years in the UK.
The investment will see the business contribute more to the Government’s connectivity targets, upgrading infrastructure in more parts of the country and bringing greater choice and competition to areas that need it most.
What does it mean for the UK?
Better connectivity for you – From lightning-fast fibre to epic 5G coverage, the partnership means better connectivity for you, plus more choice and value.
More jobs for the economy – They are investing billions of pounds into the networks to power the UK’s digital future. Creating thousands of new jobs and apprenticeships along the way.
A boost for businesses – Ready to work as hard as you do. Through combined networks, they will help to supercharge businesses as the country gets back on its feet.
What happens next?
Nothing changes for O2 customers right now but keep an eye out for more ways you’ll benefit from Virgin Media and O2 in the near future…
Source: MobileNewsCWP, O2 Business