Telefónica Logo
vm_o2.jpg

Big News

Home > Our Blog > Big News

Our ambition is to upgrade the UK through lightning-fast broadband and a fantastic 5G mobile network.  We employ around 18,000 people who are committed to going the extra mile for our customers and stepping up for the communities we serve.

Want to join us? Our application process remains the same– you can either apply for a role at Virgin Media or at O2 on our respective websites.

- https://o2careers.co.uk
 
- https://careers.virginmedia.com

There are some very exciting times ahead – stay tuned for more!

- 50-50 joint venture brings together Virgin Media, the U.K.’s fastest broadband network, and O2, the country’s largest mobile platform
Combination creates a stronger fixed and mobile competitor in the U.K. market, supporting the expansion of Virgin Media’s giga-ready network and O2’s 5G mobile deployment for the benefit of consumers, businesses and the public sector

- Fully converged platform will put customers first and have the scale to innovate in the changing digital landscape, investing £10 billion in the U.K. over the next five years
Joint venture expected to deliver substantial synergies valued at £6.2 billion on a net present value basis after integration costs, and equivalent to cost, capex and revenue benefits of £540 million1 on an annual basis by the fifth full year post-closing

- Attractive valuation for both businesses, with O2 valued at £12.7 billion and Virgin Media valued at £18.7 billion, both on a total enterprise value basis. O2 to be transferred into the joint venture on a debt-free basis, while Virgin Media to be contributed with £11.3 billion of net debt and debt-like items2
Both parties expect to receive net cash proceeds at closing following a series of recapitalizations that will generate £5.7 billion in proceeds for Telefonica and £1.4 billion for Liberty Global (after an equalization payment to Telefonica of £2.5 billon3)

- Joint venture will target ongoing net leverage of 4.0-5.0x, with proceeds from any future free cash flow generation and financing to be distributed equally between Telefonica and Liberty Global
The transaction is expected to close around the middle of 2021 and is subject to regulatory approvals, consummation of the recapitalizations, and other customary closing conditions

Search for the roles that suit you and your skills best - and apply now.

Glassdoor Reviews

Read more about our people and their reasons for being part of O2 over at Glassdoor.
Mark Evans

Mark Evans

96%

Approve of CEO

4.1 Stars

Star Star Star Star Star
Visit Glassdoor
  • Assistant Store Leader

    Current Employee - Hull

    Star Star Star Star Star

    "Great place to be"

  • Graduate

    Current Employee - Slough

    Star Star Star Star Star

    "Brilliant Company that promotes flexible working 😊"

  • Resourcing Business Partner

    Current Employee - Slough

    Star Star Star Star Star

    "Brilliant company to work for!"

We're taking important steps in response to the Covid-19 epidemic. Find out more