Virgin Media O2 officially launches in the UK, to invest £10Bn in 5G

Telecommunication giants- Virgin Media and O2’s USD 44 billion combined firm ‘Virgin Media O2’ (VMO2) has officially been launched, combining phone, TV, broadband, and mobile network businesses from both the operators. Representing one of the largest telecom deals in the UK, the companies were given a green signal for the joint venture by the UK Competition and Markets Authority (CMA) in May 2021.

With a total of 47 million customers, 18,000 employees working at over 430 retail stores, the new firm has committed to invest nearly USD 14.15 billion over the next five years to the British government’s connectivity targets under ‘upgrade the UK’, enhancing infrastructure in most parts of the nation and introducing more choices in different telecom fields.

As per an official statement by VMO2, the company is seeking to accelerate the deployment of fiber to millions of homes across the UK through its existing fiber network expansion operations. Moreover, the firm is working on different options such as potential partnerships to achieve the same.

In the past, Virgin-Media O2 mentioned its plans to expand its gigabit-capable broadband solution to reach nearly one million premises and seven million homes within a year of closing the merger. In addition to above, the company’s 5G rollout is likely to be available in over 200 cities and towns across the UK by the end of June 2021.

According to Lutz Schüler, CEO, VMO2, Virgin Media O2 will offer complete telecom dependence to customers through investments in advanced infrastructure and future technology. The company is focusing on connecting more people, supporting communities across the nation, helping businesses grow, and power the British economy, Lutz added.   

Sources close to the news reveal that O2’s mobile system may not take over the side of Virgin Mobile as the latter has inked a new MVNO agreement to swap from EE to Vodafone, which will have to run for the next few years.

To offer new services to the people across the UK, the JV will create nearly 2,000 new roles across the region along with 1,000 apprenticeships.

Source Credit: https://www.ispreview.co.uk/index.php/2021/06/merged-broadband-and-mobile-giant-virgin-media-o2-launches.html