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UK approves £31B merger between Virgin Media and mobile network O2
The UK CMA has approved a £31 billion merger between Virgin Media and mobile network O2, after an in-depth investigation.
Following a lengthy and in-depth investigation by the UK's Competition and Markets Authority (CMA) starting in May of 2020, the merger between Virgin Media and O2 has been approved. Virgin Media CEO Lutz Schüler will take the role of CEO at Virgin Media O2, while O2's CFO, Patricia Cobian, will also take on the role of CFO. The two companies combined will have 47 million subscribers across broadband, mobile, TV, and home phone.