Virgin Media O2 owners push CMA to reconsider £2bn broadband deal

✦ Meridian Analysis

Liberty Global and Telefónica are pushing the UK's Competition and Markets Authority to re-evaluate BT's acquisition of TalkTalk, a transaction valued at £2 billion according to the summary. The parent companies of Virgin Media O2 are arguing that the deal has significantly altered the competitive environment in the domestic broadband market. The exact terms of the financing package, the adviser roster, and the precise timetable for the CMA's review have not been disclosed. What remains unconfirmed is how the CMA will respond to the formal request from Liberty Global and Telefónica, or whether the regulator will reopen its assessment of the transaction. Furthermore, the pricing multiples, the exact debt structure backing BT's acquisition, and the full list of financial and legal advisers advising the respective parties have not been disclosed.

The Meridian Weekly