Virgin Media and O2
The owners of Virgin Media and O2 are in discussions to develop a new mobile and TV power player to dispute BT and Sky in the UK.
Liberty Global of the Billionaire John Malone owns the Virgin Media and a 10 percent stake in the ITV, and it is realized to be in discussion with the Telefonica to merge their UK advantages in a joint venture. This Telefonica is a Spanish telecom giant.
The discussions are raised speculation about either the Liberty Global may be open to including ITV in the deal, like the share price of the correspondent of shows including the Coronation Street and Love Island has beat a 10-year less in the middle of the fall in the ad revenues because of the COVID-19.
In 2006, the owner of the Virgin Media was Sir Richard Branson, who saw the advantages of a takeover of the ITV; however, the Sky took a stake in the free to aid correspondent to hinder the move. The Liberty Global of the Malone is the largest shareholder of the ITV by making him the kingmaker in several potential deals for the correspondent.
The deal
A deal between the Virgin Media and O2 would get together the 34m customers of the mobile operatory, which is the greatest network in the UK, with the 5.3m broadband of the cable operator, pay-TV, and mobile users.
The O2 has been an aim for the potential takeover since 2015 when £10.25bn bid by Three UK that is owned by the Hong Kong group Hutchison Whampoa. It was hindered by the European Commission on competition grounds.
The Telefonica explored a potential £10bn spin-off of that business on the London stock market to decrease the debt. The primary public offering was put on hold since the impact of Brexit increased fears over the condition of the UK economy.
