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Virgin Media, O2’s $43.3 Billion Merger Cleared by U.K. CMA (1)

April 14, 2021, 8:15 AM

The U.K.’s Competition and Markets Authority has provisionally approved the U.K. tie-up of Liberty Global Plc’s Virgin Media and Telefonica SA’s O2 division, saying competition won’t be adversely affected.

“The deal is unlikely to lead to higher prices or a reduced quality of mobile services,” Martin Coleman, chair of the inquiry, said in a statement. “Customers should continue to benefit from strong competition.”

The 31.4 billion-pound ($43.3 billion) deal will create the U.K.’s largest phone and internet operator, becoming a major competitor to BT Group Plc in offering fixed and wireless phone, broadband and television.

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