The Competition and Markets Authority of United Kingdom has announced the approval of the joint venture between Telefonica and Liberty Global to club Virgin Media and O2.
The Chief Executive Officer of Liberty Global, Mike Fries, and the Chief Executive Officer of Telefonica, José Maria Alvarez-Pallete, said:
“This is a watershed moment in the history of telecommunications in the UK as we are now cleared to bring real choice where it hasn’t existed before.
It was also mentioned that United Kingdom needs to thrive while the investment in fiber and 5G comes through and also thankful for CMA conducting an efficient review.
Lutz and Patricia are now set to take the reins and launch a national connectivity champion that will connect more people, ignite more businesses back to growth and power more communities for the greater good.”
About Telefonica
It is one of the worlds largest telecommunications service provider headquartered in Madrid Spain, the company provides fixed and Mobile telephony, subscription television, broadband mainly in Europe and Latin America. It has around 344 million customers. The company is a component of the Euro Stoxx 50 stock market index.
About Liberty Global
It is an anglo American telecommunications company headquartered in Denver, London and Amsterdam it operates in seven European countries under the brands of Telenet, UPC and Virgin Media, VodafoneZiggo and the combined Sunrise UPC.
It connects around 49 million customers with broadband, video, fixed and mobile telephony service operating in six countries and 20,600 employees.
