Speculation over O2-Virgin Media mega-deal

If reports of a possible £24bn O2-Virgin Media mega-merger are true the deal would create the biggest telco in Britain with, according to Goldman Sachs analysts, 34% of the market.

Goldman Sachs expects the combined company to be an equal joint venture worth up to $30bn including debt.

The details of a transaction are expected to be revealed on Thursday after Liberty’s (Telefonica's parent company) Q1 results are announced.

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