Forward-Looking Statements and Disclaimer

This website contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “may,” “target,” and similar expressions and variations or negatives of these words. These forward-looking statements may include, among other things, statements relating to the outlook in the U.K. of Telefónica, S.A. (“Telefónica”) and Liberty Global plc (“Liberty Global”); operational expectations, including with respect to the development, launch and benefits of products and services of Telefónica and Liberty Global and the launch of 5G speeds; future growth prospects and opportunities, results of operations, uses of cash, share repurchases, tax rates, and other measures that may impact the financial performance of Telefónica and Liberty Global; anticipated benefits and synergies and estimated costs of the proposed transaction; the expected timing of completion of the proposed transaction; and other information and statements that are not historical facts. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include events that are outside of the control of Telefónica and Liberty Global, such as: Telefónica, Liberty Global, and our respective operating companies’ ability to meet challenges from competition and to achieve forecasted financial and operating targets; the effects of changes in laws or regulation; the effects of the U.K.’s exit from the E.U.; general economic, legislative, political and regulatory factors, and the impact of weather conditions, natural disasters, or any epidemic, pandemic or disease outbreak (including the novel strain of coronavirus, COVID-19); Telefónica, Liberty Global, and our respective affiliates’ ability to obtain regulatory approvals and satisfy other conditions to the consummation of the proposed transaction; the proposed transaction may not be completed on anticipated terms and timing or completed at all; Telefónica, Liberty Global, and our respective affiliates’ ability to successfully integrate the combined businesses and realize anticipated efficiencies and synergies from the proposed transaction; the outcome of any potential litigation that may be instituted with respect to the proposed transaction; the potential impact of unforeseen liabilities, future capital expenditures, revenues, expenses, economic performance, indebtedness, financial condition on the future prospects and business of the combined business after the consummation of the proposed transaction; expected financing and recapitalization transactions undertaken in connection with the proposed transaction and risks associated such transactions; any negative effects of the announcement, pendency or consummation of the proposed transaction; and management’s response to any of the aforementioned factors.

For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, please see Telefónica’s and Liberty Global’s respective filings with the U.S. Securities and Exchange Commission (“SEC”), including Liberty Global’s most recently filed Form 10-K and Telefónica’s most recently filed Form 20-F, as well as the documents filed by Telefónica before the different supervisory authorities of the securities markets in which its shares are listed and, in particular, the Spanish National Securities Market Commission. These forward-looking statements speak only as of the date of this release. Telefónica and Liberty Global expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Additional Information

In connection with the proposed transaction, Liberty Global has filed with the SEC a Current Report on Form 8-K that includes the Contribution Agreement entered into by Liberty Global and Telefonica in connection with the proposed transaction. Investors and security holders of Liberty Global are urged to read the Current Report on Form 8-K and the Contribution Agreement filed with the SEC carefully and in their entirety because they contain important information about the proposed transaction and related matters.

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We’re joining forces

News & Views

Fast, reliable connectivity has never been more important. From the ability to work and learn from home, stay connected with loved ones, and support our communities, the combination of O2 and Virgin Media will deliver transformational benefits for customers, employees and the wider economy.

"This joining of forces is undoubtedly big news - but the most important thing is that customers will benefit rather than lose out." Ernest Doku, USwitch
“I welcome this merger and the likely positive impacts it will have for UK consumers.” Dan Howdle,
“A combination of O2 and Virgin Media is a natural fit.... a mobile network for Virgin and a fixed-line (broadband) arm for O2.” Kester Mann, CCS Insight

Putting customers first

Greater choice

Combining Virgin Media’s gigabit broadband and entertainment with O2’s award-winning and 5G-capable network, for the highest-quality customer experience possible

More value

Additional services and products - broadband, mobile and TV - “bundled together” in one place to provide greater value

Innovative products

Superior connectivity, greater scale and increased competition will drive innovation and investment in cutting-edge customer products

Uniting innovative cultures

Shared values

Bringing together two organizations that put values at the heart of their business, and put people first

High quality talent

Combining two organizations where people and culture have been key to success, and talent, skills and learning have been drivers of innovation

Single passion

Together our people share a passion for connecting people and businesses, helping them thrive no matter what

Driving economic growth


More choice and better services for B2B customers, from small businesses to large enterprises, schools and hospitals - increasing productivity, advancing digitization, boosting investment and creating jobs

Digital infrastructure

Supporting the expansion of Virgin Media’s gigabit network and O2’s 5G deployment, benefiting consumers, businesses and the public sector while helping the Government deliver next-generation connectivity across the UK

5G rollout

Access to Virgin Media’s network will enable the more effective deployment and rollout of 5G

A National Connectivity Champion




Mobile, home and business connections


Planned capex investment
over 5 years

Combining O2’s number one mobile business with Virgin Media’s superfast broadband network and entertainment services will be a gamechanger in the UK, at a time when demand for connectivity has never been greater or more critical.

We are creating a strong competitor with significant scale and financial strength to invest in UK digital infrastructure and give millions of consumer, business and public sector customers more choice and value. This is a proud and exciting moment for our organisations, as we create a leading integrated communications provider in the UK.

José María Álvarez-Pallete López
Chief Executive and Chairman of Telefónica

We couldn’t be more excited about this combination. Virgin Media has redefined broadband and entertainment in the UK with lightning fast speeds and the most innovative video platform. And O2 is widely recognized as the most reliable and admired mobile operator in the UK, always putting the customer first.

With Virgin Media and O2 together, the future of convergence is here today. We’ve seen the benefit of FMC first-hand in Belgium and the Netherlands. When the power of 5G meets 1 gig broadband, UK consumers and businesses will never look back. We’re committed to this market and are right behind the Government’s digital and connectivity goals.

Mike Fries
CEO of Liberty Global

The deal will result in the creation of a national connectivity champion at a time when our country needs it most. The combination of our two brands, O2 and Virgin Media, will bring together 5G technology with gigabit broadband creating exciting new integrated services for citizens of the UK.

By joining forces, we will mutually benefit the customers of both companies, as well as drive better value, quality and investment in one of the most digitally developed countries in the world. The UK economy and its customers deserve the best connectivity and this agreement will deliver just that.

Mark Evans
CEO of O2 in the UK

The combination of two of the UK’s most recognizable brands in Virgin Media and O2 is going to create a national connectivity champion that will be a true competitive powerhouse.

Together, with our fast growing gigabit broadband and 5G mobile networks, alongside a top TV service, we’ll keep investing to provide high quality next-generation connections to consumers, businesses and public services across the UK. Customer-first values will remain at the heart of our businesses, ensuring we establish a real converged challenger.

For Virgin Media, this blending of in and out-of-home connectivity is something that we’ve been building momentum on for some time, so today is the beginning of something very special for our people, our customers and the whole country.

Lutz Schüler
CEO of Virgin Media

For Investors

Investor information

For further investor information please visit the investor websites of Liberty Global and Telefónica.

8-K form Liberty Global Investor Site Telefónica Investor Site

For Media