LONDON: Telefonica SA and Liberty Global Plc have agreed to create the United Kingdom’s largest phone and internet operator, a deal that threatens its rivals and marks another merger for billionaire John Malone.
The deal values the new company at £31bil (US$38bil), with Telefonica’s O2 being valued at £12.7bil and Liberty’s Virgin Media valued at around £18.7bil. The companies, which started negotiations in December, said in a statement that there were £6.2bil in synergies.
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