Telefonica, Freedom Global to Merge U.K. Businesses

May.07 — Telefonica SA and Liberty Global Plc. have agreed to create the U.K.’s largest phone and internet operator. The deal values the new company, combining Virgin Media and O2 at $31 billion pounds. The joint venture is set to pose a challenge to the dominance of BT in converged services. Bloomberg Intelligence’s Matthew Bloxham discusses the merger on “Bloomberg Markets: European Open.”

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