Virgin Media O2 Plans UK Fiber Business Paving the Way for Deals

Fixed network company will challenge BT Group in the UK
The business will provide a platform for fiber acquisitions

Telefonica and O2 offices in Slough, UK. — Telefonica and O2 offices in Slough, UK.
Photographer: Simon Dawson/Bloomberg

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By Clara Hernanz Lizarraga

February 16, 2024 at 5:22 PM UTC

This article is for subscribers only.

UK internet provider Virgin Media O2 is planning to break its fiber broadband services into a separate unit that will serve as a platform for deals and challenge incumbent BT Group Plc.

The business will hold VMO2’s fiber and cable network assets, the company said in a statement on Friday. VMO2 will connect to the services through a wholesale agreement with the new business.