VIRGIN Media and O2’s £31billion merger has been given the green light to be completed by the Competition and Markets Authority (CMA).
It comes after O2’s parent company Telefónica announced last year that the two firms were in talks to merge.
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The deal brings together O2’s 34million customers on its mobile network with Virgin’s 5.3million broadband, pay-TV and mobile users.
O2 – which also provides the network for GiffGaff, Tesco Mobile and Sky Mobile – is the UK’s largest phone company.
The CMA was initially concerned that, following the merger, Virgin and O2 could raise prices or reduce the quality of these wholesale services.
This, in turn, could force its competitors to offer lower quality mobile services or increase their prices, which would negatively impact consumers.
However, the CMA has now concluded that the deal is unlikely to lead to any “substantial lessening of competition”.
The tie-up will create a major rival to BT by bringing together different platforms.
More to follow…
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