Virgin Media O2 has agreed a merger deal of its business-to-business division with Daisy Group in a tie-up that will create a telecoms company with around £1.4 billion in sales. The combined group will be majority owned by Virgin Media O2, which will hold a 70% stake, with Daisy owning the remaining 30%.
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00:00Hello, I'm Greg Wright of the Yorkshire Post.
00:04Virgin Media O2 has agreed a merger deal of its business-to-business division with Daisy Group.
00:12The deal will create a telecoms company with around £1.4 billion in sales.
00:18The group will be majority owned by Virgin Media O2, which will hold a 70% stake, with Daisy owning the remaining 30%.
00:28It will be led by Virgin Media O2 Business Managing Director Joe Bertram, who will become Chief Executive of the newly merged firm, with Daisy Group founder Matthew Riley acting as Chairman.
00:41The deal is expected to close early in the second half of 2025.