 | |
| Company type | Joint venture |
|---|---|
| Industry | |
| Founded | 1 June 2021; 4 years ago (2021-06-01) |
| Headquarters | Reading, England |
Area served | United Kingdom |
Key people | Lutz Schüler (CEO) |
| Owners |
|
| Subsidiaries | |
| Website | virginmediao2 |
VMED O2 UK Limited,[1]trading asVirgin Media O2, is a Britishmass media andtelecommunications company based inReading, England. The company was formed in June 2021 as a 50–50 joint venture betweenLiberty Global andTelefónica through the merger of their respectiveVirgin Media andO2 UK businesses, after approval by theCompetition and Markets Authority.[2][3]
O2 UK is thelargest mobile network in the United Kingdom by customer base, providing5G,4G,3G (until late 2025), and2G services, and Virgin Media is the main cable provider in the UK, providingcable (HFC) andfibre-to-the-premises broadband,cable television (Virgin TV), andcable landline services.
O2 UK was formed in 1983 as Telecom Securicor Cellular Radio Limited,[4] ajoint venture betweenBritish Telecom (BT) (60%) andSecuricor (40%). In 1985, it launched Cellnet, which alongsideVodafone was one of the two original mobile networks in the UK. BT later acquired Securicor's share, and rebranded the network as BT Cellnet.[5] In 2001, British Telecom announced it wouldspin off its BT Wireless division, which included BT Cellnet, as mmO2 plc (later O2 plc), and introduced theO2 brand ahead of the demerger.[6] The demerger was completed later that year, and in 2002, BT Cellnet was rebranded O2.[7] O2 plc was acquired by Spanish telecoms firm Telefónica in 2006.
In March 2006, cable telecommunications firmsNTL andTelewest merged, having been in discussions since 2003, formingNTL:Telewest. In 2004, NTL had acquiredADSL anddial-up providerVirgin.net.[8]
In April 2006, NTL:Telewest announced a £962 million offer to acquireVirgin Mobile UK, whichRichard Branson largely accepted via a mix of cash and shares, becoming the largest shareholder with a 10.7% stake.[9] The acquisition was completed in June 2006, creating the UK's first "quadruple play" telecommunications company offering television, internet, landline, and mobile phone services.[10][11][12] Following the acquisition of Virgin Mobile, NTL:Telewest secured a 30-year licence from Branson'sVirgin Group to use the Virgin brand.[9] Additionally, Virgin Enterprises Limited gained the right to nominate a board director.[13] In February 2007, NTL:Telewest was rebranded as Virgin Media.[14][15] In 2013, Virgin Media was acquired byJohn Malone'sLiberty Global.[16]
In May 2020, it was reported that Telefónica and Liberty Global were in talks to merge their respectiveO2 andVirgin Media businesses in the UK.[17] The merger was completed on 1 June 2021, with Liberty Global and Telefónica each holding a 50% stake in Virgin Media O2, the new holding company for the businesses. This represented the largest ever UK telecoms deal, and the biggest UK merger in a decade.[18] The deal made, valued Virgin Media as being worth more than O2, however Liberty Global agreed to pay a £2.5 billion equalisation payment to Telefónica, in part due to Virgin Media's debt level. Recapitalisations, were expected to result in both Liberty Global and Telefónica generating net proceeds from the venture.[19]
In October 2021, the company introduced a package of complimentary benefits known as 'Volt' for households with Virgin Media broadband who have at least one O2 Pay Monthly plan, applicable to both new and existing customers.[20][21][22] These include:
Virgin Media O2 also extended access to O2 Priority in November 2021, providing exclusive perks, ticket presales, and experiences previously exclusive to O2 customers, to Virgin Media customers, allowing them full access to the O2 Priority app.[27]
On 24 July 2023, it was announced that Virgin Media O2 would cut up to 2,000 members of staff by the end of 2023.[28] The figure included 800 job reductions that had already been announced and followed similar headcount reductions made by competitors.[29]
The company announced that it had moved allVirgin Mobile UK customers to the O2 network in August 2023. It had advised customers in January 2023 that they would be transferring, with data allowances either doubling or becoming unlimited. Virgin Mobile no longer offer new plans or services.[30][31] The following month, Virgin Media O2 acquired the UK-regional broadband business Upp, that provided services in the East of England, with its ownership being sold toNexfibre, a joint venture owned by Liberty Global, Telefónica andInfraVia Capital Partners. The government had ordered that Upp be sold, on national security grounds.[32][33]
As part of the companies mobile transformation strategy, a £700m investment was reported in March 2025, aiming to enhance mobile reliability and speed.[34] It was reported that Virgin Media O2 had agreed a deal worth £343 million with Vodafone, in July 2025, to buy spectrum to boost and expand Virgin Media O2 mobile network coverage. The deal would result in Virgin Media O2 having nearly 30% of UK mobile spectrum.[35] Three months later, Virgin Media O2 announced that they would partner withStarlink, to improve UK rural mobile phone coverage. They will be the first mobile operator in the UK to use Starlinksatellites.[36] O2 Satellite, an optional payable add-on, will switch to satellite in areas where no signal is available.[37]
The Virgin Media O2 board is led by Chief Executive Lutz Schuler, as of 2025.[38] In September 2025, it was reported that he would take a leave of absence, subsequent to being diagnosed with prostate cancer.[39] When the joint venture was announced, it was reported that it would be led by an eight person board of directors, four each from Liberty Global and Telefónica.[40]
Full year results, showed that in 2024, Virgin Media O2 generated revenue of £10,680.5 million. This was a slight year on year decline, down from £10,912.7 million (full year 2023). The company reports having 45.7 million mobile connections and 5.8 million fixed line customers.[41]
After the merger, it was reported that the advertising spend of Virgin Media and O2 combined would make Virgin Media O2 the fifth largest advertiser in the UK, although the company clarified there would be a reduction in marketing expenditure.[42] Following an advertising pitch, VCCP was retained by Virgin Media O2.[43] A year after the merger, a campaign was launched to promote their Volt proposition.[44]
{{cite web}}:Missing or empty|title= (help)| Products and services | | ||||
|---|---|---|---|---|---|
| Former products and services | |||||
| Former subsidiaries | |||||
| Predecessors |
| ||||
